Phala Network | 1,2,3 & Moving Averages (100%-188% BU-Pot.)We looked at this pair recently on its USDT version, you can find it below on the related trade-ideas.
This is the Bitcoin (BTC) pair for Phala Network (PHABTC).
Notice the three valleys in early 2023. The same pattern repeats now after a major lower low.
The lower low is ultra-positive if you are out, or getting in now, because it tells us that all the weak-hands have been removed. It tells us that sellers are now exhausted.
By the way, if you are looking at this market now you are a genius. You have great timing and you are definitely in a great place in your life. People tend to pay attention only when prices are at the top and when there is hype. Go ahead. You are doing great.
➖ We have the same 1,2,3 pattern.
➖ We have the initial breakout after mid-August and we are now witnessing the resumption of the bullish move after a higher low.
Notice that the bullish action today is happening as Bitcoin is weak. This is a negative correlation. This is good because Bitcoin has been bearish recently. If these pairs can grow while Bitcoin moves down, this turns into an avenue to protect capital while Bitcoin completes its correction. The stock market is also set to crash.
These are not really early signals. They are not super-strong but these signals are good. Chances are high for the continuation of the bullish move. Say, 80% up and 20% down. So we are good based on technical analysis.
Follow me as I shall continue to share more charts.
(I almost forgot to mention, PHABTC is trading above the fast moving exponential moving averages, which is another positive signal to consider.)
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Namaste.
