BULL FLAG AT HOT. :)Hello, I am back with another idea at HOTUSDT pair. In my last ideas I showed you different scenario (you can check them in my profile) and they all played out very well. I have not deleted some parts of the charts I have been using for a month at HOT and they seem to have remained the same. Now I would like to share with you the most possible scenario and worst case scenario (dependable on BTC and its dominance)
FIRST SCENARIO (high possibility to happen)- Rarely do you see a quite beautiful bullish flag as you may see it in HOTUSDT pair. We can see the continuation of that bull flag, and probably very soon it will come to an end. In that case, a real breakout confirmation it's needed in the chart. If it breaks above 0.0165-0.017, it is a confirmation for an uptrend. The red line I have mentioned in the last analysis (AREA TO BREAK) remains the same. Breaking there is a confirmation we are having a strong uptrend. TP1 sits at 0.019-0.020 for a small retest and uptrend to TP2-0.026 and TP3 - 0.031 (ATH) and probably higher. Scenario very possible as bull flags are typically very bullish moves. Don't get triggered by a small fake out in an downtrend.
SECOND SCENARIO- I do not think this can happen but just a bear market can cause this. If the fake out in an downtrend closes under the yellow support line at 0.0145, the trend has changed. In that case, you can short and enter in the 0.011-0.0013 area. However, be sure to put a Stop loss at 0.014-0.0145 area.
Hope you enjoy my idea and if there is any comment let me know. But all the indicators are relaxing for a big bullish move. However, you always need to be careful. Good luck trading. :)
