EGLDBTC trade ideas
Elrond Gold (EGLD) Grows Over 3000% In 163 Days; Round 2 NowElrond Gold (EGLDBTC) grew by 3081% if you start counting on the late March low all the way to the early September peak.
After the September peak, we had 76 days of correction before support was hit on Nov. 18.
We had ~5.4 months of bullish action followed by ~2.5 months of bearish action... A new bullish wave is about to start.
We can see that EGLDBTC retraced below all EMAs and also the 0.786 Fib. retracement level based on the last bullish wave.
Now, we are seeing a strong bullish candle that is pushing prices above EMA10, EMA21, and EMA50, with the RSI above 60; this all signals strength.
It is very likely that EGLDBTC will resume its bullish trend.
For how long will this new bullish wave go?
We don't know exactly, but just as this pair ended in a higher low, it is sure to print a higher high before this new wave is done.
If momentum is lost, the blue dashed line will work as support.
Namaste.
EGLD planGot my EGLD bag.
All I remember from this summer Alt season was: "why did I sell that 20% gains?"
now I have a decent sized position here I want to hold EGLD through this next cycle.
I have a few zones for beating the buy low sell at ATH's.
Plan:
at each resistance sell 20% of position with a chance to pick it up and mega red days at previous support.
Starting with 0.1 BTC this rout would make about 0.9 BTC in gains.
Hence some strategic capital protection for when to sell will be important for keeping me sane till the top.
I think the next alt run will beat the summer run, so I want to take my profits neat the top for safety but leave initial capital as my moon bag as we jump into price discovery.
EGLD / BTCEGLD / BTC
๐ Technical Analysis ๐
The price broke out from the falling wedge
And forming bullish inverse H&S
Now we can see also The price got rejected from EMA 50 (brown) after nice Breakout
And EMA 20 hold as support (red)
If market and btc continue giving alts a breath... EGLD one of top coins that will grow
Now i expect it will have some pullback to local daily support before next leg up
Buy after successful retest
Please have a plan before trading and use stoploss
Good luck and happy trading ๐น
EGLD/BTC (Testing Important Support)๐Technical Analysis Summary๐
BINANCE: EGLDBTC
-EGLD is back from its previous minor consolidation last June 2020
-This is crucial, because if this level of support failed
-The next potential support below is somewhere around 300s sat
-That is quite a heavy downward move if it happens
-The Altcoin market is too Bearish as of this moment
-So buying at key support is still high-risk
A big Thanks for donating ๐ฐ via Tradingview coins this week to SattarKHAN ๐๐
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Trading Involves High Risk โ ๏ธ
Not Financial Advice ๐ธ
Please Exercise Risk Management ๐ฑ
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Through Leaving A Thumbs Up, Comment & Follow ๐ฌ
Happy Trading!๐๐๐
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EGLD/BTC (Awaiting Breakout Direction)๐Technical Analysis Summary๐
BINANCE: EGLDBTC
-EGLD is on a strong downtrend
-The price is currently trading in a ranging channel
-It will either break to the upside or downside
-So to protect your self from the wrong direction
-Waiting for the breakout direction is the is the best option
-If the market breaks to the upside above the channel box
-That is good confirmation to enter a Buy position
-Target is up to 900 sats or higher
-But if the market breaks lower below the channel
-That would be a good selling position
A big Thanks for donating ๐ฐ via Tradingview coins this week to billstenzel ๐๐
``````````````````````````````````````````````
Trading Involves High Risk โ ๏ธ
Not Financial Advice ๐ธ
Please Exercise Risk Management ๐ฑ
``````````````````````````````````````````````
Thank You All!๐๐๐For Supporting My Channel ๐บ
Through Leaving A Thumbs Up, Comment & Follow ๐ฌ
Happy Trading!๐๐๐
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