✳️ Galxe Consolidation Reveals Bullish Bias (200%+400% Pot.)
Updated
Did you read the Voxies trade idea? A downtrend turned into a consolidation phase which precedes an uptrend.
The same is true for Galxe but here the chart is more revealing, the pair is stronger.
➖ GALBTC hit bottom April 2023.
After this bottom we have higher lows and higher highs until present time.
This chart is "stronger" because instead of a consolidation phase and a bottom being hit last month, we have long-term higher lows/highs, so there aren't that many sellers around.
This long-term ascending channel, since June 2023, precedes a bullish wave. Things can change, but that is what the chart is showing now.
➖ GALBTC is trading above MA200, EMA100 and EMA50 on a daily basis.
The RSI is super strong at 61.
The most relevant volume bars are all green, we cannot see big red volume bars unless we look back to early 2023.
Bottom line: All signals are green.
We make a plan before buying so we know when to get out as the bullish trend develops.
There are many ways to approach this and other pairs and how you decide to do so will depend on your capital, trading style and goals.
Long-term holders have it the easiest, nothing needs to be done.
For the rest of the market players... Thanks a lot for your support.
👉 Here the chart is mainly showing a 217% potential but the targets go up to 400%+.
Remember, there can be so much more but drawing the All-Time High potential would distort the chart and the drawings would get lost.
So we focus on the short-term, calling this to your attention to give you a good entry and once we are green, the rest is easy.
Namaste.
The same is true for Galxe but here the chart is more revealing, the pair is stronger.
➖ GALBTC hit bottom April 2023.
After this bottom we have higher lows and higher highs until present time.
This chart is "stronger" because instead of a consolidation phase and a bottom being hit last month, we have long-term higher lows/highs, so there aren't that many sellers around.
This long-term ascending channel, since June 2023, precedes a bullish wave. Things can change, but that is what the chart is showing now.
➖ GALBTC is trading above MA200, EMA100 and EMA50 on a daily basis.
The RSI is super strong at 61.
The most relevant volume bars are all green, we cannot see big red volume bars unless we look back to early 2023.
Bottom line: All signals are green.
- Since we have many bullish signals combined, this tells us that the bulls are in control.
- Since the bulls are in control, this means that the action is likely to go up.
- Since the action is likely to go up, this is a great pair that we can buy and hold.
We make a plan before buying so we know when to get out as the bullish trend develops.
There are many ways to approach this and other pairs and how you decide to do so will depend on your capital, trading style and goals.
Long-term holders have it the easiest, nothing needs to be done.
For the rest of the market players... Thanks a lot for your support.
👉 Here the chart is mainly showing a 217% potential but the targets go up to 400%+.
Remember, there can be so much more but drawing the All-Time High potential would distort the chart and the drawings would get lost.
So we focus on the short-term, calling this to your attention to give you a good entry and once we are green, the rest is easy.
Namaste.
Note
This is another pair doing great but still early.Not early for a great entry, we are pass that but still early to enjoy a nice ride.
The Altcoins will grow.
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