BSV/USD Bounce Play Off Previous ATH Zone
Tips: moneybutton.com/Kurt
Handcash: Kurt
Buy - between $240-$255
Stop Loss - A Daily candle close below $240
Target - wicks at $270-$280
Risk - ~5%
NOTE: Signal is for a 1-4 day bounce play, and subject to reevaluation.
Elliot Wavers are looking to touch the parabola and take off to $700, but horizontal support and resistance demands a bounce play off of previous all time high between $240-$250 to take a long position with a profit zone of $270-$280 for a short term swing trade.
The line that is acting as support was drawn many months ago as it was the peak of the previous all time high. When previous resistance acts as support, the bulls should pay attention.
This daily is also arguably a bull flag, and if it goes bullish with strong volume, we may see a new run for a higher target. I will re-evaluate in 1-4 days or at $280 - whichever happens first.
Handcash: Kurt
Buy - between $240-$255
Stop Loss - A Daily candle close below $240
Target - wicks at $270-$280
Risk - ~5%
NOTE: Signal is for a 1-4 day bounce play, and subject to reevaluation.
Elliot Wavers are looking to touch the parabola and take off to $700, but horizontal support and resistance demands a bounce play off of previous all time high between $240-$250 to take a long position with a profit zone of $270-$280 for a short term swing trade.
The line that is acting as support was drawn many months ago as it was the peak of the previous all time high. When previous resistance acts as support, the bulls should pay attention.
This daily is also arguably a bull flag, and if it goes bullish with strong volume, we may see a new run for a higher target. I will re-evaluate in 1-4 days or at $280 - whichever happens first.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.