Funfair / USD - Dragonfly DOJI
Updated
Circled in black on the above weekly chart a Dragonfly DOJI on the 21-week moving average has formed suggesting a strong move to the upside is about to occur.
1st target 5 cents or 1000% away.
If we zoom out a little we see on the weekly chart below:
1) The Dragonfly DOJI has formed on and above two critical moving averages:
a) The 21-week moving average (yellow line) - bullish
b) The 50-week moving average (green line) - very bullish
2) We can also see the Dragonfly DOJI has formed as past resistance becomes price action support (blue line).
3) Price action bottoms out creating an inverses head & shoulders pattern as sellers become exhausted.
4) On the Money Flow Index oscillator (bottom) we can see major support was tested and confirmed. Fantastic.
1st target 5 cents or 1000% away.
If we zoom out a little we see on the weekly chart below:
1) The Dragonfly DOJI has formed on and above two critical moving averages:
a) The 21-week moving average (yellow line) - bullish
b) The 50-week moving average (green line) - very bullish
2) We can also see the Dragonfly DOJI has formed as past resistance becomes price action support (blue line).
3) Price action bottoms out creating an inverses head & shoulders pattern as sellers become exhausted.
4) On the Money Flow Index oscillator (bottom) we can see major support was tested and confirmed. Fantastic.
Note
Just by coincidence whilst looking through 6-day charts I saw the same DOJI candle, this price action has a lot of upward momentum behind it - I've no idea why, it is not a project I follow.Trade active
Note
50% in 16 days! Super fantastic. The weekly chart below now suggests higher highs are to come however I would expect a pullback to 44 to confirm support before continuing upward. Notice how current price action is at the previous weekly high. Wait for confirmation.
Note
Now over 200% - quickly becoming overbought. Might be not a bad idea to take some profits off the table.Note
Up 350% in only 30 days - amazing.Time to be careful, price action is a 60% drop from the 21-week bull market support moving average. Additionally the weekly RSI is at 90 = overbought!
Note
Now over 800% in 45 days - Price action for sure is overbought however no sell signal as of yet. Am de-risking myself into other assets. There's one on my mind that's about to go ballistic, will publish shortly.Note
The 9-day chart appears to have printed a 'spinning top' at the same time Stochastic RSI drops below 80 whilst the 'incredible sell' illumination is no longer.Excellent moment to take some profits, buy the dip when it happens.
Trade active
A good moment to accumulate as a 'incredible buy' opportunity appears.Trade active
Same massive move might be about to occur again - will study more later!The Fractal is uncanny. 2-day chart with price action correcting to golden ratio as before testing the 200-day / 2-day EMA.
furthermore the Gaussian strip just turned Green as before (very bullish)
Trade active
Just looking up the daily chart (not sure why I dint before), price action has:1) Corrected to an 18 month old trend line that has offered previous strong support.
2) Corrected to the golden ratio.
3) RSI resistance breakout.
4) is showing bullish divergence with 10 oscillators!
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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