cause if you had to thats where you'd look right?
same as last post i did on $yfi - price exploration on little volume and macd/rsi divergences... $100k meme strong!
i didnt have much luck with this method on the invert last time but its certainly food for thought here... anyhow if your questioning what to do, wait for convergence and short the breakout
ok, so firstly and most importantly i only use the conversion/baseline tool to identify a potential trade or confirm the direction of one im already in (or need to get out of). running out and simply switching long and short on the beep can have mixed results although when trending can yield more positives. beside that my tutorial is for having the base/conv...
self explanatory on the chart. - we have fallen below the mid term trend - price can still make push up and ultimately will look for a short off it - gap below, markert makers will want to direct your shorts here for leverage to up - liquidity up above the last high at $12500 to scare shorters out of position - wait for diagnoal convergence if you want a safe...
it would be super bullish to see the rsi bottom out and price hold on the long term diagonal with a nice big azz divergence!
youve seen this enough times on my profile to know how this works. rsi would ideally close past orange trendline and then retest it before the shot upwards. weekend volume making this sluggisg, meh
if your new to crypto and bought this at $11, your probably thinking its going to 0 and now is the best time to sell at a 90% loss...
gvt lets rock and roll. targets on screen, cannot break new yellow diagoanl
3day trendline touch with support below rsi still positive push price to diagonal
trending market + hype, rumors of $100k, perfect place to chop 50% and look at a long near support and golden pocket
fractals hey, guess everyone will buy it down here or will everyone expect lower when lows come haha
one more push into rejection and we could well die. rising price on declining volume = bearish. aim for he cloud to catch cme gap below 0500, then lower (gulp)
wait for convergence the descending convergence and sell the ascending... drop me a pm - happy to discuss trade details
i posted this last night on my thing and this is where its at for bulls now; 12h POC, on support and diagonal trendline, now looks like it is a long to break out the flat top triangle...
tip: its invert. you know what to do...
a few candle closes below and we make our way to mid 9s again