HOTBTC: Consolidation, Bullish Divergence
(https://i.imgur.com/9vqKBad.png) (https://www.tradingview.com/chart/HOTBTC/XpksyYUk-HOTBTC-Consolidation-Bullish-Divergence/)
- HOTBTC Price has reached it's Binance August 2018 low* of 8 sats .
- Currently consildating in a range between 7 & 10 sats for over a month.
- Testing 50 Day MA, 100 Day MA is in line with falling channel resistance.
- Bullish divergence on the RSI & MACD even if CMF looks tragic.
- Long-term targets: 18-20 sats (2x), 24-26 sats (3x) as well as ATH 46 sats (4x).
- Waiting for a break and close above 10 sats (green dotted line) for long-trade.
- Anticipating a test of the 100 Day MA / falling channel resistance prior to breakout.
*ATL currently at 6 sat June/July 2018, where price consolidated for a month.
This is the third time HOT has entered a consolidation against BTC for a period of around of more than a month.
The first time in 2018 the price went from a low of 6 sats to 22 sats (3.5x), the second time in 2019 the price moved from 11 to 46 sats (4x). The price is now back between 6-11 sats , so go figure. Stop losses should be 5 sats for below for macro traders.
Source: https://www.tradingview.com/chart/HOTBTC/XpksyYUk-HOTBTC-Consolidation-Bullish-Divergence/
HOTBTC: Weekly Flirting With TD Green Price Flip
(https://i.imgur.com/UvG4jHH.png) (https://www.tradingview.com/chart/HOTBTC/rervhWPQ-HOTBTC-Weekly-Flirting-With-TD-Green-Price-Flip/)
To elaborate on the Daily bullish view of HOT/BTC:
- Bullish divergence on the CMF (compared to bearish on the Daily time frame).
- RSI beginning to find support from breaching oversold conditions at 30.
- TD Sequential reached an aggressive 13 (as far as TV algo goes).
- Weekly candle is flirting with a green 1 when 9 sats or above.
- MACD yet to bull cross but coming closer together.
Bullish divergence aside, I'm liking the simplistic sequential weekly view at the moment:
- The last time a green 2 went above a green 1 was in January 2019, the price rose 20 sats to 46 ATH within 2 weeks.
- The price therefore could breach the falling channel resistance first time (on a green 3 going above a 2).
- Next week could active the first long trade on HOTBTC for 9 months, based on the sequential system.
Resistance levels modified for weekly view: 12-14, 21-23, 28-31 as well as 46 ATH .
Source: https://www.tradingview.com/chart/HOTBTC/rervhWPQ-HOTBTC-Weekly-Flirting-With-TD-Green-Price-Flip/
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