Weekly: After an extreme drop, price went below -1 ATR, but by the looks of it, it seems it is about to close above 1 ATR level. If so, it will become a nice setup on the weekly, which I will provide a setup for, when that sets up. The impulse is still red, but when I peek at the setup of 3 days, I see it's blue already, and with crypto I cheet with this factor sometimes as it is so volatile.
I expect this to close above 100$ support. sRSI is maximum oversold and EFI is ticking up
On the daily we have a nice bullish divergence, and a higher low, which shows a rejection candle, and from there it ticks up. The bullish divergence is on both MACD-H and EFI. sRSI is already rising up and nog overbought. I expect prices to reach between the slow EMA and 1 ATR level.
stop 88,21
entry 98,5
TP 1 111,35
TP 2 115,84
I phase out in parts, therefore I set 2 target profits. But I prefert TP2 here, as this is only on 0.5 ATR, but I have to check the background of the crypto market, as we're in a bear market currently, I am therefore conservative.
PS
The arrow should point to that wick, after the bullish div, but Tradingview morphed the graph somewhat
Trade 2022#002
I expect this to close above 100$ support. sRSI is maximum oversold and EFI is ticking up
On the daily we have a nice bullish divergence, and a higher low, which shows a rejection candle, and from there it ticks up. The bullish divergence is on both MACD-H and EFI. sRSI is already rising up and nog overbought. I expect prices to reach between the slow EMA and 1 ATR level.
stop 88,21
entry 98,5
TP 1 111,35
TP 2 115,84
I phase out in parts, therefore I set 2 target profits. But I prefert TP2 here, as this is only on 0.5 ATR, but I have to check the background of the crypto market, as we're in a bear market currently, I am therefore conservative.
PS
The arrow should point to that wick, after the bullish div, but Tradingview morphed the graph somewhat
Trade 2022#002
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.