(ONEBTC): 5th wave movement?
Updated
Let's get into the chart!
Pattern:
ONE had a huge 3rd Wave movement previously and has completed its 4th corrective wave. Now I think it's ready for the 5th Wave.
After setting its ATH , ONE has retraced and bounce back up at the 50% level (311 sats) and now trying to break the 61.8% (231 sats).
Indicators:
MACD: Possible bullish crossover
RSI still have plenty of room upwards
Candlesticks still below EMA10 = bearish
Trading plan:
Our buy zone is between 315-325 sats. Get a bag in this zone and keep a tight stop-loss. Enter the trade if ONE bounces back up at major trend line support (refer Blue arrow) and closes above it.
Let's see how the price actions will go for the next few hours.
Buy range: 315-325
Target: 359-396-461
Stoploss: If price closes below 300 sats
Good luck! :)
Pattern:
ONE had a huge 3rd Wave movement previously and has completed its 4th corrective wave. Now I think it's ready for the 5th Wave.
After setting its ATH , ONE has retraced and bounce back up at the 50% level (311 sats) and now trying to break the 61.8% (231 sats).
Indicators:
MACD: Possible bullish crossover
RSI still have plenty of room upwards
Candlesticks still below EMA10 = bearish
Trading plan:
Our buy zone is between 315-325 sats. Get a bag in this zone and keep a tight stop-loss. Enter the trade if ONE bounces back up at major trend line support (refer Blue arrow) and closes above it.
Let's see how the price actions will go for the next few hours.
Buy range: 315-325
Target: 359-396-461
Stoploss: If price closes below 300 sats
Good luck! :)
Note
So, what's the progress?
- Great bounce at the major trend line support!
- MACD has done a bullish crossover
I have added the 5th Wave sub-waves in the chart which could possibly be the journey of the 5th Wave (provided that BTC stays calm).
Most important thing:
- Must not forget to set your stop-loss
- Lock profits at each target reached
Trade closed: stop reached
ONE broke our major trend line support due to BTC movement and went down hard afterwards.We'll see next trade opportunity.
See you next time! :)
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