מעודכן
WTCBTC - Lets Confirm A Breakout
Posting about a series of Alt Coins that follow my relatively straightforward criteria these days for when Bitcoin is in a slide. The four parameters are:
1. Above the 50 day MA (RED).
2. Above the 9 day EMA (Orange).
3. Above 50 RSI - Even better if Above 60 RSI .
4. Positive trend in MacD .
Coins already meet the parameters include ONT VEN BNB and EOS. ZIL will join them soon, as will WTC so long as the day candle closes above the 9 Day EMA.
The problem: Is WTC going to complete the Inverse H&S?
My prediction - Yes.
Why? WTC just made a nice push with the price breaking above both the 50 Day MA and 9 Day EMA. It is finding some resistance from 50% Fib retracement, but I do not expect this to hold up for long. Give it a day or two, and the rising 9 Day EMA should catch and push the price even higher. There is about to be a nice bullish cross of the 50 day MA and the 9 Day EMA which should at the least ensure a nice modest price movement for the next few days.
How to play it: If not already holding, the time to buy is as close to the 9 Day EMA as possible. The 9 Day EMA may be tested as support a number of times during the upcoming bullish run, so that should leave plenty of windows of opportunity. I myself bought in today. If risk adverse, then wait for a confirmed breakout of the RSI above 60 which is a strong indicator of a bullish trend. Stoploss will be tricky because WTC has not strictly followed the 9 Day EMA as support. During the bullish run preceding the ATH, WTC never pierced the 9 Day EMA. So maybe the fact that the last short bullish run saw the price jump back and forth day after day is a sign of a weak run. Target initially is the neckline of the inverse head and shoulder pattern, then if a breakout occurs the sky is the limit and reevaluation will be necessary.
1. Above the 50 day MA (RED).
2. Above the 9 day EMA (Orange).
3. Above 50 RSI - Even better if Above 60 RSI .
4. Positive trend in MacD .
Coins already meet the parameters include ONT VEN BNB and EOS. ZIL will join them soon, as will WTC so long as the day candle closes above the 9 Day EMA.
The problem: Is WTC going to complete the Inverse H&S?
My prediction - Yes.
Why? WTC just made a nice push with the price breaking above both the 50 Day MA and 9 Day EMA. It is finding some resistance from 50% Fib retracement, but I do not expect this to hold up for long. Give it a day or two, and the rising 9 Day EMA should catch and push the price even higher. There is about to be a nice bullish cross of the 50 day MA and the 9 Day EMA which should at the least ensure a nice modest price movement for the next few days.
How to play it: If not already holding, the time to buy is as close to the 9 Day EMA as possible. The 9 Day EMA may be tested as support a number of times during the upcoming bullish run, so that should leave plenty of windows of opportunity. I myself bought in today. If risk adverse, then wait for a confirmed breakout of the RSI above 60 which is a strong indicator of a bullish trend. Stoploss will be tricky because WTC has not strictly followed the 9 Day EMA as support. During the bullish run preceding the ATH, WTC never pierced the 9 Day EMA. So maybe the fact that the last short bullish run saw the price jump back and forth day after day is a sign of a weak run. Target initially is the neckline of the inverse head and shoulder pattern, then if a breakout occurs the sky is the limit and reevaluation will be necessary.
הערה
Returned to the 9 Day EMA to give buyers another chance to get in, as I indicated above the best time to buy is as close to the 9 Day EMA as possible.העסקה בוטלה באופן ידני
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.