TIA Breakout Entry:
Updated
I believe Tia will break the resistance zone this time.
For many times Tia tried to close weekly above this zone but could really not manage it.
"What's different for this time then?"
Well, the simple answer is; It's the time now because Tia was falling back for a while. Bitcoin dominance is too high for a while and in some point it will fall apart. With addition to that, we will see a pullback in market. Pullback is not going to crash the market, it will restore it.
Altcoins are low and getting lower against Bitcoin. Tia is actually one them. It's something new, it's strong and has a long way to run.
About the technical part;
We see a bullish flag pattern in 2 or 4 hour time frame. A formation like this was needed to break down entire resistance zone at once. Now, Tia has that.
Daily RSI never fall below 40 which good and currently moving around 55. As long as it's below 50, it's also a positive sign.
Despite we are behind at 50 EMA (4H) right not, Tia still can easily go above that. Short term moving averages also currently positive.
Only negative side we have is, he have an imbalance around 17.6 and Tia can claim that area if it can't break the flag upwards.
Therefore, we will wait till the breakdown and the last wick.
This entry is not fit for leverage and futures. It already has a high TP and a wide SL. Would be a great risk to take an entry with leverage in here.
Good luck to us all.
For many times Tia tried to close weekly above this zone but could really not manage it.
"What's different for this time then?"
Well, the simple answer is; It's the time now because Tia was falling back for a while. Bitcoin dominance is too high for a while and in some point it will fall apart. With addition to that, we will see a pullback in market. Pullback is not going to crash the market, it will restore it.
Altcoins are low and getting lower against Bitcoin. Tia is actually one them. It's something new, it's strong and has a long way to run.
About the technical part;
We see a bullish flag pattern in 2 or 4 hour time frame. A formation like this was needed to break down entire resistance zone at once. Now, Tia has that.
Daily RSI never fall below 40 which good and currently moving around 55. As long as it's below 50, it's also a positive sign.
Despite we are behind at 50 EMA (4H) right not, Tia still can easily go above that. Short term moving averages also currently positive.
Only negative side we have is, he have an imbalance around 17.6 and Tia can claim that area if it can't break the flag upwards.
Therefore, we will wait till the breakdown and the last wick.
This entry is not fit for leverage and futures. It already has a high TP and a wide SL. Would be a great risk to take an entry with leverage in here.
Good luck to us all.
Note
Tia could not manage to reach 19.8 yet. Still waiting for entry point...If it breaks 17, it's not going to be valid anymore.
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