Hello guys,
There is a probably good opportunity with 1INCH/BTC and I would like to share it with you, as I consider to take place into this. I would like to have some of your ideas.
As you can see the big picture in the 4h chart is that 1INCH is moving into a falling wedge which we already know that it is a bullish pattern. The interesting thing about it is that it has already done a fakeout outside the pattern without enough volume. Now it is the second try to breakout with volume that confirms the breakout.
In the second picture it is easy to see that it has hidden bullish divergence which of course means that there is underlying strength that probably lead to a trend reversal or a breakout.
Zooming into the breakout and the 4h chart we can see that the breakout has a significant ammount of volume and already a small retest on the thin green line which is the trend line that led into the breakout of the falling wedge.
Watchout now! There are 2 possible scenarios in my opinion and I will try to be quick on this and save you valuable time. Try to remember that in general I believe that overthinking and overevaluating is not going to help, beacause when you do it you have probably mixed it with your fillings and this is something that we dont need to do.
The first scenario is giving us a profit of around 20%-25% and it is just continues higher ing the goal of the falling wedge which also a previous top of around 11000 sats.
The second scenario is that it will probably go for a retest into the thin green line or even in the thicker green line of the falling wedge. This move is better probably because it lets the price gain strength as it is retesting the previous levels and creats a buying opportunity for us in the level of around 7500 sats with a probably +/- 500 sats range of buying zone. This will lead into a profit of about 40%-50% with the same target.
We have just to create allerts and be carefull about the price levels. Important thing is to keep an eye into the shorter timeframes and see what will happen there. I would like to hear of your ideas and learn of what you think.
Take care and good gains!!