Vibe fell out of it's channel and found support at the lower trendline which served as the base for an ABCDE asymmetrical triangle pattern. The smaller ABC of Wave E just reached the target zone on the trendline where it found support and I filled my orders. Looking for a breakout of the top trendline with some volume. This setup is simple but one of my favorite trades - they have a solid probability and a failed breakout is easy to spot and cut with little loss or even a profit if you move your SL from underneath as it tests upper trend. If it does breakout to the upside, it will likely retrace and test and downtrend line near the apex before continuing up. Lots of people believe the breakout failed and exit. Target is equal to length of mouth of triangle - 760 sats. Stoch RSI on the 1H just reset and the other longer term indicators look promising.
Kommentar:
Just as Vibe fell perfectly into E there was enough price action in BTC to do what it always does to alts and it broke below. Triggered SL but it may recover to continue. Will be watching it develop.