Entries where shared in my previous post. And as mentioned this cycle I want to catch trend reversals early, is this the start of a reversal or just a relief rally for alts? We won't know until a higher low is confirmed. Let's take a look at how my trade ideas are going.
Bullish divergence on weekly. And when RSI below 30 it was near the bottom.
Looks good for now, when mentioned it was a bit high after breakout, best entries is always on the retest, anyway I think $0,5 will hit soon as I see a inverse head & shoulder pattern. And its flipping $0,3 into support, the neckline in the pattern and as long as this holds -> 2nd rally coming imo. Invalidation a close below. For a closer look on the priceaction.
(if u look at ada in both pairs you will se the same as on enj.)
Cardano also had a fantastic rally, the exit from the bear is marked by a big move. Would love to see it come back to retest $0.4 in the coming weeks/months for a second entry/rebuy, just as previous time, history simply repeats or do you see something else than me?
Polkadot saw a nice rally after the retest of the breakout was done. It took a few weeks and here is the second stage up. Still got some running room in the RSI, can we hit $10? At some point local top will come and it will correct to make a higher low and confirm a trend reversal. Thats a buy or addback imo. There is still a year before this market cycle high will come imo. If it will be $30 DOT in 2024 or $80 in 2025 I dont know, I will exit when the charts tell me to as previous cycle on the bearish divergence that formed.
I hope you enjoyed reading and leave a comment If you want to see more ideas in the future.😃
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BTC update - 38k hit - What about alts? ENJ/ADA/DOT
Christopher
Kristiansand, Norway
Source: Photos are chart-screenshots by me from Tradingview.com
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