On the above 1-day chart price action has corrected 95% since late December, ouch. A number of reasons now exist to be bullish , including:

1) The ‘incredible buy’ signal.

2) Price action RSI resistance breakout.

3) Points 1 & 2 above is also true for the 1-day BTC pair (below).

4) Price action prints a falling wedge + breakout.

5) The Bollinger Band now shows price action above the mean as the mouth of the band is squeezing (below). This is a leading indicator of a large move to come.

6) Nudge nudge wink wink – don’t know what I mean? Shame.

Is it possible price action falls further? Sure.

Is it probable? No.

On a fundamental level it is interesting this project is paired with the Sushi protocol, which itself is very bullish .

Good luck!

Ww

Type: trade
Risk: <=6% of portfolio
Timeframe: don’t know.
Return: 2x near term

1-day BTC pair

1-day Bollinger Band squeeze