Quickpost: Massive gain potential on DAOUSDT W pattern
Updated
I am looking to find a entry on DAOUSDT to put on a fair amount of margin for this potential W pattern. Targeting is a simple fib draw from the swing high to the swing low price is currently putting in. The chart below shows the bullish divergence on the MACD histogram, and the RSI is tightening in a falling wedge with lots of potential for an upside move.
A lot of this is predicated on my overall operation assumption that BTC has gone into accumulation. Please see the linked ideas below for more details. There are a lot of bullish formations forming on a lot of trading pairs so it makes the decision to be bullish based on all of the background information. I still need basic trade management but way less searching for indicators and divergences and the like.
A lot of this is predicated on my overall operation assumption that BTC has gone into accumulation. Please see the linked ideas below for more details. There are a lot of bullish formations forming on a lot of trading pairs so it makes the decision to be bullish based on all of the background information. I still need basic trade management but way less searching for indicators and divergences and the like.
Note
DAOUSDT is steadily marching its way upward, increasing my confidence that this is a W pattern Since we have gotten above the previous low the next major challenge will be progressing to the dashed trendline and beating it as resistance.
Related publications
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.