Previous resistance on the 20 week / 150 day moving average has now become support after the first life cross on this 3-day chart. A strong signal in its own right and now Stochastic RSI is seen sharply moving to upside with higher lows produced on the RSI .
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Yup - I'm watching it, BTC is running the show and that means all alt's are fair game. Still a strong buy.
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MFI @ 8 - circled in blue. Once BTC is finished hogging all the attention we should see some Waves. It might not look it but when MFI is this low it is a strong buy signal, in combination of a Stochastic RSI < 20.
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PS: Wait until this horrible descending symmetrical triangle completes on the 4-hour chart before taking action.
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Stochastic crossing upward above 20, Bullish divergence with RSI vs Price action. Never going to look better than now.
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Brutal watching but patience is important, so I keep telling myself. The bottom cannot be much further now we're developing a falling wedge.
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2-month long bullish divergence on the 3-day chart
@Ar84ltc, definitely, resting on 200-day Moving average, sitting on strong RSI support, all good. Be patient. BTC stealing the limelight and trashing all alts at the moment.
without_worries
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@without_worries, Should add... Can it fall below the 200-day MA? Absolutely. Never try to guess the bottom, just work the charts. When an asset is sitting on the 200-day MA I consider that a strong buy. If the RSI is below 30 (40 in this case), that's a powerful buy not likely to be available for any length of time.
virtualmonkey
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Bought into this last week...hoping you're right :)
without_worries
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@virtualmonkey, ha ha - hope so too, purchased more a few days ago. The combination of MACD & the crossing Stochastic RSI is becoming one of my favourite signals ;-)