🉑DATA- 2022 New perspective feat. double bottom divergences
Updated
The price reached strong support, left is previous trend forming a potential double bottom there (confirmation after breaking above >0.10$) Multiple bullish divergences can be spotted on various indicators => (RSI,MFI,OBV) The divergence on OBV is insane.
- The chart with longer price history from Bitfinex BITFINEX:DATUSD (different ticker) looks ok (the price is at last point of dynamic support)
-
DATABTC pair is at support in a rising channel
tradingview.com/x/TvZFtKnH/
The whole 2021-2022 price action could be treated as one big accumulation <= this remains valid as long as the price hold above 0.07$ (red area) Also the good thing is that even if I'm wrong, stop loss can be placed very close(less than 10%) which means that risk:reward ratio here is extremally attractive.
Will post updates whenever I feel like it's needed.
- The chart with longer price history from Bitfinex BITFINEX:DATUSD (different ticker) looks ok (the price is at last point of dynamic support)
-
DATABTC pair is at support in a rising channeltradingview.com/x/TvZFtKnH/
The whole 2021-2022 price action could be treated as one big accumulation <= this remains valid as long as the price hold above 0.07$ (red area) Also the good thing is that even if I'm wrong, stop loss can be placed very close(less than 10%) which means that risk:reward ratio here is extremally attractive.
Will post updates whenever I feel like it's needed.
Note
let me just add that at the time of posting this bitcoin is trading at 39k and generally the market feels like its about to make a big move, so I wouldn't take ANY positions until btc breaks below <38k or above >45klooking forward to see what comes next
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