Venus | Bullish Lower Low (160% BU-Pot.)I'll explain why this is a "bullish lower low."
First, notice the repeating pattern. After the low in June 2023, prices start to climb slowly and this slow climb ends up as a strong bullish wave. This is good.
We have the same pattern now; after a drop in early July we are seeing a slow climb and this is gaining in bullish momentum. This is all very good.
The June 2023 low is the main level to consider. As XVSBTC moves now above this level, clearly marked on the chart, it is considered strongly bullish. The lower low is bullish because all gains have been removed with the correction. Once prices move below a long-term support level, there is no selling left; no more selling needed because there is nobody to sell to as the entire bullish wave was deleted. With no sellers left, prices can only grow now. Thus this lower low indicates that no more correction is likely because the correction went beyond 100%.
The move back-above this level, with growing bullish momentum and the broader altcoins market going bullish, indicates that we will see growth. It is not easy to make money, anywhere, so it is a lot when we can actually pocket 100%-200% growth.
The pair can grow much stronger than what is shown on the chart. This post works as an alert for a good chart setup, "a great entry." Once you are in, you have to take care of the rest. Experience, non-greed and planning are necessary for success.
Good luck and good profits.
You can ask me anything if you have doubts.
Thank you for reading.
Namaste.
