ALPHAUSDT trade setup1- This is a technical analytic not a prediction
2 - be patient
3- consider stop loss
Alphaust
ALPHA.USDT (Y21.P1.E1).Re-accumulation HI All,
Looking at many ALTs, they either have their 12 hrly trend or lost their trend and looking for re-accumulation.
With Alpha, its nice and a clean chart.
It went with 4 bases and a toping off (distribution) phase as per the chart.
Now its trying to establish support at the 0.618 level, and now on the 0.5 fib level.
This is the level where you should seek to reenter to long.
I"m more interested to enter when its about to break out, which risks the likelihood of missing out, at the time.
So I will buy some it this formation and buy more as it breaks out.
The triangle (purple) is only denoting a bottom formation, for it can take many shapes, eg inverse H and S. or wedge.
Once can't be sure until we see what happens in the coming days.
All the best,
S.SAri.
