BSW01247
EssentialThe chart speaks for itself portending the catalyst volley to come.
EMA Ribbon, horizontal resistances, descending channels of resistance- all confluent. I expect another wave down over the coming day.
Confluence in king here. Additionally, we are confluent on the FET/BTC pairing with a key support area of .00000243ish. I, therefore, deduce that we bounce from this area in the near term. We are heading toward .20 cents in a hurry, possibly, even moving toward the .30-50 cent range by mid February.
Hey I'm, admittedly, long but I think I have some legitimate reasons to be.
I believe the uptrend has been confirmed and it is a matter of time before we see the next impulsive wave. However, wisdom is justified by her children. We shall see. Shalom.
An interesting relationship between the stochastic RSI and the price action. Are there clues here about potential price movement to come. *Full disclosure: I am long. I think we are in the ballpark of a major impulsive move to the upside. Perhaps, not yet seated in the stands, but definitely in the parking garage walking through the arena doors.
A cup and handle on the weekly? I am uncertain, but it could be a possibility, however low. Shalom.