Three Drives Pattern formation identified in SXP
We could sense some bulls joining the party at Altcoins, after BTC rallies its way towards 53k from 50k yesterday.
After breaking its flat channel at 3.3 levels, shorts are covered according to OBV.
Price taking support at VWAP levels indicates a good bullish momentum. Price retraced at 0.382 levels as on last price retracement and going further below furthers boost bulls confidence.
Targets
4.5+
5.0+
5.5+
Accumulate further on price retracements as clearly shown in the chart. SL= 3.455. Calculate your risk:reward judiciously. Dont go below 1.5X reward: risk.
After breaking its flat channel at 3.3 levels, shorts are covered according to OBV.
Price taking support at VWAP levels indicates a good bullish momentum. Price retraced at 0.382 levels as on last price retracement and going further below furthers boost bulls confidence.
Targets
4.5+
5.0+
5.5+
Accumulate further on price retracements as clearly shown in the chart. SL= 3.455. Calculate your risk:reward judiciously. Dont go below 1.5X reward: risk.