On the month of August 2023 at a price of $4 Without Worries published “Bounce Token (Auction) to $40” (see below / green triangle on chart above). Price action went 10x over the next 120 days. Almost worth getting out of bed for. Then the idea “Auction to $16” (see below / red triangle) was published at $45 on December 2023. Price action corrected to $7.
Overall price action has corrected 85% since the last idea. A number of reasons now exist to consider a long position, they include:
1. Price action and RSI resistance breakouts.
2. Support on past resistance. Not just the downtrend resistance, the horizontal support also, look left. All the way left back to 2022 (see chart below).
3. The same hidden bullish divergence that printed in early February (orange circles) now prints again. Previously this divergence was followed by a 600% breakout move in the 6 weeks that followed.
Until this point conditions 1 through 3 are an exact copy of the $40 idea. Look left, a higher low matched in both price action and RSI breakouts, wonderful isn't it?
4. The Bull flag takes the first impulsive wave to measure the next forecast the next wave to circa $110 area.
Is it possible price action continue to correct? Sure.
Is it probable? No.
Ww
“Bounce Token (Auction) to $40”
“Auction to $16”
Horizontal support / resistance from 2022
Overall price action has corrected 85% since the last idea. A number of reasons now exist to consider a long position, they include:
1. Price action and RSI resistance breakouts.
2. Support on past resistance. Not just the downtrend resistance, the horizontal support also, look left. All the way left back to 2022 (see chart below).
3. The same hidden bullish divergence that printed in early February (orange circles) now prints again. Previously this divergence was followed by a 600% breakout move in the 6 weeks that followed.
Until this point conditions 1 through 3 are an exact copy of the $40 idea. Look left, a higher low matched in both price action and RSI breakouts, wonderful isn't it?
4. The Bull flag takes the first impulsive wave to measure the next forecast the next wave to circa $110 area.
Is it possible price action continue to correct? Sure.
Is it probable? No.
Ww
“Bounce Token (Auction) to $40”
“Auction to $16”
Horizontal support / resistance from 2022
Trade active
Active on publication.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.