Lots of good looking signals here: *MA convergence *Ascending triangle (with a few recent swing fails below it, most recently a loss and reclaim of the 100MA IF today's candle closes above it) *Some very good looking gaps above immediate resistance *Stoch reset and potential bull cross (RSI is not shown but at decision point, hovering at 50) *Volume spike yesterday (need to see more though)
Two ways to play it: 1. Enter in the 130s and look for a push above the MA convergence (more aggressive) 2. Enter on a confirmed retest of the main resistance and/or 200 MA (more conservative)
I'm building a position which will be invalid on a close below and bearish retest/rejection of 120. It might take a while to show its hand.
Targets: *160 *199 *252 *387 I'll be re-assessing at each target and watching BTC to escape the trade if needs be.
A closer look at the MA convergence on the daily:
ملاحظة
It's moving very slowly. Sitting and waiting patiently in a half position for now.
We have the bull cross on the stoch, now it needs to follow through with a push upwards.
Beginning to wonder if it'll play out but invalidation is clear through one or all of these: Confirmed loss of diagonal support No reclaim of the 100MA in the coming few days, which may happen when the 100 and 200 MAs cross in a few days, anticipated direction in dotted on the chart below.
ملاحظة
Stopped out on the BTC move yesterday, but haven't been loving this one for a while in any case.
It's now lost ascending support and the 100 and 200 MAs.
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