✳️ Ethereum Name Service Bottom Confirmed Through...

6 nov 2023

• A strong bullish divergence with the RSI;
  
• Rising volume with a rounded bottom;
  
• RSI above 50 as prices come out of a new All-Time Low;
  

Let's start with ENSBTC daily RSI


The strong bullish divergence starts in June:
➖ ENSBTC = Lower low October vs June
➖ RSI = Higher low October vs June

The rounded bottom is a classic with yesterday's session producing the highest buying power since April this year.
Trading volume is dropping from February through October as ENSBTC hits new lows and rises many times above average as soon as the bulls are ready.

These are simple signals that points to prices moving up.
If things change, the main support level is the last low, that's where a stop-loss can be used.

Another strategy is to buy more each time a support level is hit.
So if prices drop say for another month or two rather than going up, one would accumulate (buy more) in anticipation of the next bullish wave.

In case of a drop, just think long-term.
Buy and hold to later sell when prices are high.

Namaste.

27 apr

Trade chiuso: obiettivo raggiunto

~150% Target hit.

This pair is preparing for a new round of growth.