Hello Hive people!
For this trading idea, I have used the 1D time frame, because I wanted to point out how perfectly the price of this pair moved after breaking out the falling wedge.
If you take a look at the chart below, you will see how the price has reached an all-time low, and, then the price has started to move up.
Move Nr.1
-price hit an all-time low around 213 sats( green dotted line)
-the pair made a nice move up by 80%
Move Nr.2
-price hit an all-time low around 178 sats ( purple dotted line)
-the pair made a nice move up by 81%
How does it look so far for you?
Is this a coincidence, or just a crazy pattern? I hope it is a pattern because of the Move Nr. 3 it's about to take place very soon.
Move Nr.3
-price hit an all-time low around 168 ( blue dotted line)
-is the pair going to make a move up by 80% again?
Now, if we take into consideration the moves from the past, (move 1 and 2) we can expect to see an increase in the price by 80%. Yes, sure the price could go even lower from this stage, but the point is that you should keep an eye on this pair and wait for a breakout of the falling wedge. This will be the ideal play here, which could generate a nice profit for us. I am going to do so, and I will convert to HIVE all the profits from this trade.
What do you think? Is history going to repeat itself?
If you have enjoyed reading this, please show your appreciation ! Until next time, I wish you all a great day.