GOAT - long opportunity coming soon?
Since reaching its ATH on 17th Nov, GOAT has been moving downwards in the descending parallel channel in the daily chart. However, there are some signs of recovery:
1) MACD is still in the bear zone (below 0), however, the MACD lines clearly crossed and now pointing upwards;
2) RSI also still in the bear zone (below 50), but the lines clearly crossed and moving upwards;
3) Stochastic (9,3,3) formed positive divergence and has entered into the bull zone (above 50);
4) Weekly stochastic reached oversold territory, the lines have crossed (higher timeframe confirmation)
0.75 zone is a good area of entry for long (blue rectangular area in the chart), IF the price clearly breaks and closes above the channel, decisively moves above the closing price on Oct 26th, daily MACD enters the bull zone and ideally weekly stochastic are moving upwards.
There are many IFs, but I think a long opportunity is coming.
1) MACD is still in the bear zone (below 0), however, the MACD lines clearly crossed and now pointing upwards;
2) RSI also still in the bear zone (below 50), but the lines clearly crossed and moving upwards;
3) Stochastic (9,3,3) formed positive divergence and has entered into the bull zone (above 50);
4) Weekly stochastic reached oversold territory, the lines have crossed (higher timeframe confirmation)
0.75 zone is a good area of entry for long (blue rectangular area in the chart), IF the price clearly breaks and closes above the channel, decisively moves above the closing price on Oct 26th, daily MACD enters the bull zone and ideally weekly stochastic are moving upwards.
There are many IFs, but I think a long opportunity is coming.
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