Hi all, join for some TA. A small update on them since the market is so action-packed. Let's see how the development has gone since my previous post on them.
as mentioned this cycle I want to catch trend reversals early, is this the start of a reversal or just a relief rally for alts? We won't know until a higher low is confirmed.
Also did a post on TOTAL2 with this in mind. You can read it here -> @digi-me/alt-season-on-the-horizon
I think $0,5 will hit soon as I see a inverse head & shoulder pattern
We had a pullback and it went to 0.618 fib and we bounced and hit $0.5, the target of the inverse head & shoulder I mentioned last time. And by taking out the previous high makes this correction we had form our higher low, at least until invalidated by bears. I made a circle in orange to always be aware of such an event, but then our higher low needs to be broken. If a big dump like that I belive its a buy. If not I guess we are going to test $0.7 ish next. Reason for entry back in nov 2023, first RSI showed bullish divergence, then we broke our white downtrend, and then RSI entered bullish zone as previous cycle. Can it reach my moon target @mypathtofire ?😃
Would love to see it come back to retest $0.4 in the coming weeks/months for a second entry/rebuy, just as previous time, history simply repeats or do you see something else than me?
That idea played out nice aswell, I wanted to open a long but it never got where I wanted it, it hit $0.45 instead.. You can't get them all, but the first entry running nice.
Polkadot saw a nice rally after the retest of the breakout was done. It took a few weeks and here is the second stage up. Still got some running room in the RSI, can we hit $10?
Lets say it hit $10 hehe. The same strategy was used here, bullish divergence presented itself, we broke out of the white downtrend, RSI enter bullish zone = I buy.
I hope you enjoyed reading and leave a comment If you want to see more ideas in the future.😃
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Christopher
Kristiansand, Norway
Source: Photos are chart-screenshots by me from Tradingview.com
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