לונג
BLZ may ready to breakout here
we've all had those trades we've where we wanted to see something in the chart, and our favorite indicator said go for it, so we went long (or short, as may be), but our favorite indicator betrayed us and the trade goes badly. Why is that?
In my experience, the best trades are based on a confluence of indicators, i.e. a number of indicators and oscillators are pointing out the direction of the trade. To me, this BLZ/ BTC chart is one of those. Let me explain...
1 - Pattern: A traditional cup and handle, almost text book. I tend not to like or rely on chart patterns (II think a lot of the times its like looking at clouds; people see what they want to), but this one looks like it is from the investopedia "trading chart patterns" series. I'll roll with it.
2- It's respecting a nice horizontal uptrend line, bouncing off an up each time
3- Keeps flipping resistances into supports
4- 1D Stoch is bullish, and has room to move up
5- RSI is pointing up
6- Ichimoku cloud shows no signs of slowing
I got in my first buys on this 0.00004413, and have been laddering more in as we move up. As other alts show signs of slowing down, expect more money to flow into BLZ and coins like it that are maintaining positive momentum.
Next stop is re-test of the top of the cup at 0.000078 region, I can see it re-testing previous ATH after that if it breaks through. Anything above that and you now move into price discovery territory, but let's not get ahead of ourselves
In my experience, the best trades are based on a confluence of indicators, i.e. a number of indicators and oscillators are pointing out the direction of the trade. To me, this BLZ/ BTC chart is one of those. Let me explain...
1 - Pattern: A traditional cup and handle, almost text book. I tend not to like or rely on chart patterns (II think a lot of the times its like looking at clouds; people see what they want to), but this one looks like it is from the investopedia "trading chart patterns" series. I'll roll with it.
2- It's respecting a nice horizontal uptrend line, bouncing off an up each time
3- Keeps flipping resistances into supports
4- 1D Stoch is bullish, and has room to move up
5- RSI is pointing up
6- Ichimoku cloud shows no signs of slowing
I got in my first buys on this 0.00004413, and have been laddering more in as we move up. As other alts show signs of slowing down, expect more money to flow into BLZ and coins like it that are maintaining positive momentum.
Next stop is re-test of the top of the cup at 0.000078 region, I can see it re-testing previous ATH after that if it breaks through. Anything above that and you now move into price discovery territory, but let's not get ahead of ourselves
כתב ויתור
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