Long
SUBBTC - Reverse you must!
SUBBTC is approaching all time low, as long as the technical low is not take out, EW rules for a second wave still apply. Weekly closed into a doji, so expecting one more doji candle this week for a stronger signal of bottom being in. Note that it doesn't necessarily need to make a new low but a 3 wave structure is mandatory.
3D RSI on a triangle squeeze.
3D RSI on a triangle squeeze.
Note
There is a chance that the correction is over here. Unorthodox but this is crypto.They have been hyping the updates over the past month and they have a live stream with datadash next week.
If you follow both of them you know what that means. Bonus points if you find the connection between very long wicks near ATL and the volume spikes while Bitcoin makes no move.
Take it as it is. Long live crypto manipu.. ehmm hype.
Note
This can be a complex B before the last wave down. RSI is at overbought but the trend is still up on this time frame.Note
First target is hit on SUB. Retracement of the 2nd wave is shallow, so we either have an extension on the first wave, or its higher degree first wave its gonna be a big one.Note
Hit the second target, there are 5 waves up but it may keep going, it doesnt matter, targets were reached.Trade closed: target reached
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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.