Bullish confluence on WABI/BTC
First off: im a beginning trader forcing myself to make a trade journal and, by doing that, capping the number of trades I take and making it possible to evaluate all my trades later. Also it reduces the risk of FOMO'ing because as long as I stick to my habit of first analysing and publishing my trade, that FOMO moment will have passed and I will have a plan to buy a retest or something like that. ALSO: I am always inspired by either twitter and/or telegram and/or discord groups, so dont be surprised if you see things from influencers in between my own analysis. I am looking to confirm for myself the analysis of influencers and find confluence by myself before taking a trade. And of course non of this, by a long run, is financial advice. Not even close.
What I am seeing on WABI is a CUP and HANDLE wich in this case is a trend reversal sign. The depth of the cup is 1779. Adding that to the top of the cup gives the target which lines up perfectly with a resistance point that you would draw based on previous high/resistance. Then the cup has a handle, which played out perfectly and just got broken up, with high volume, sort of confirming the whole idea for me. Not coincidentally this happend to be a bounce of support/previous resistance zone, based on price levels (see blue box). Also, the RSI just broke out of a downward lane, AND crossed up over 50, both bullish. Also, we are above the ICHE cloud and the ICHE blue is above the RED, all bullish.
Right now price is being held down by the blue iche indicator. As it so happens im already bag holding enough WABI from just above these lvels (dont ask why haha). So im happy seeing WABI develop. But i will be buying upon a retest of either the iche-cloud, iche-red indicator, and/or blue support zone.
2665 or something seems the obvious T1 for short term as that is the top of the descending triangle aka the handle of the cup that has been broken out of. I guess then its 3300 and only after that we go all the way.
Love to hear your thoughts! Cheers.
PS: i was inspired by, at least, CryptoCapo, CryptoShelby, and Cryptocred
my twitter = @boy30_dani (also just started that)
What I am seeing on WABI is a CUP and HANDLE wich in this case is a trend reversal sign. The depth of the cup is 1779. Adding that to the top of the cup gives the target which lines up perfectly with a resistance point that you would draw based on previous high/resistance. Then the cup has a handle, which played out perfectly and just got broken up, with high volume, sort of confirming the whole idea for me. Not coincidentally this happend to be a bounce of support/previous resistance zone, based on price levels (see blue box). Also, the RSI just broke out of a downward lane, AND crossed up over 50, both bullish. Also, we are above the ICHE cloud and the ICHE blue is above the RED, all bullish.
Right now price is being held down by the blue iche indicator. As it so happens im already bag holding enough WABI from just above these lvels (dont ask why haha). So im happy seeing WABI develop. But i will be buying upon a retest of either the iche-cloud, iche-red indicator, and/or blue support zone.
2665 or something seems the obvious T1 for short term as that is the top of the descending triangle aka the handle of the cup that has been broken out of. I guess then its 3300 and only after that we go all the way.
Love to hear your thoughts! Cheers.
PS: i was inspired by, at least, CryptoCapo, CryptoShelby, and Cryptocred
my twitter = @boy30_dani (also just started that)
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