Adventure Gold Hits New ATL, 390% Potential (Ultra-Bullish)This is a pretty interesting project, we are looking at the token for the the Loot NFT, Adventure Gold, vs Bitcoin (AGLDBTC).
We have a bullish situation out of bearish signals.
Adventure Gold (AGLDBTC) hit a new All-Time Low in August 2024. This low broke a major long-term support that was valid in June 2022, November 2022 and May 2023. Now, the ATL went below this level and this is bearish, true, but the pair recovered and has been green for four consecutive sessions after a short-term higher low.
What makes this chart setup "ultra-bullish" is the fact that AGLDBTC is now trading back above the 2022/2023 long-term support. As long as the action is happening above this level, the potential for a bullish wave is super high and we can expect growth. If it moves lower things change.
We don't have to worry about the lower part though, because we buy and hold focusing on the long-term. If it moves lower, we buy more thinking of the "accumulation phase."
This is not financial advice.
Remember to do your own research and planning.
My experience tells me always to buy and hold when prices are low. Even if there is another drop or sudden crash, it tends to recover right away.
The only hard position or situation is when we buy at the top/when prices are high... This is something to avoid.
Namaste.
