PLT / USD - Bullish divergence

Yet another oversold alt-coin, this time 96% from the August highs. On the above 2-day chart following the oversold condition (orange column) we have a month long bullish divergence set up between price action and the Money Flow Index (MFI). Additionally Stochastic RSI is crossing up the 20 = bullish.

Is it possible for price action to fall further? Sure.

Is it probable? Very unlikely. Risk / reward is excellent.

1st target, 450% from current price point.

3-day chart below shows strong buying pressure following the sell-off.

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تعليق:

90% in 48 hours! Take that Bitcoin.