BALBTC- Potential for 20% jump?
Updated
BAL has had a bit of a rough go, much like the rest of the market, in recent times.
Up until a few days ago, clear descending channel.
It had a breakout then got stopped at very firm support turned resistance. I've got a feeling we might see a jump back up here in the next week or so.
INDICATORS
MACD has a bullish divergence right now and just fought off a cross into bearish.
Stoch on the uptick but has room to grow.
Volume decent volume spike on last resistance retest, steadily diminishing volume otherwise.
EMA we're below EMA 100 & 200 on the 4H chart. Tends to be a good sign of a rebound up to around there when you start seeing a reversal.
TP's:
#1 - 0.00153
#2 - 0.0017
SL: 15% Max. If it breaks down through the historic support it'll be in trouble.
--
“Chances don't approach you, it's you who approach chances." - Toba Beta
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Up until a few days ago, clear descending channel.
It had a breakout then got stopped at very firm support turned resistance. I've got a feeling we might see a jump back up here in the next week or so.
INDICATORS
MACD has a bullish divergence right now and just fought off a cross into bearish.
Stoch on the uptick but has room to grow.
Volume decent volume spike on last resistance retest, steadily diminishing volume otherwise.
EMA we're below EMA 100 & 200 on the 4H chart. Tends to be a good sign of a rebound up to around there when you start seeing a reversal.
TP's:
#1 - 0.00153
#2 - 0.0017
SL: 15% Max. If it breaks down through the historic support it'll be in trouble.
--
“Chances don't approach you, it's you who approach chances." - Toba Beta
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Note
First TP Hit @ 0.00153 :)Note
Second TP Hit @ 0.0017 . Sold myself short on this one looks like we're mooning.Trade closed: target reached
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
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