HOTBTC: Consildation, Bullish Divergence & TD Sequential (12/09)

[dragononcrypto]

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

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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