HunnVar
@t_HunnVar
What symbols does the trader recommend buying?
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HunnVar
Over the past 10 months, Bitcoin has displayed strong bullish momentum. Although it briefly dropped below the 200 EMA in June 2022, it made a significant recovery in March 2023 and has since remained above this crucial indicator. This 200 EMA now serves as a reliable support level, highlighting the sustained upward trend.Bitcoin's price movement can be visualized as it ascends within a substantial ascending wedge, currently residing in a notable area of convergence within a larger bullish flag pattern.Very defined Horizontal Support and Resistance Levels:BTC has firmly established specific horizontal support and resistance levels. These levels have undergone repeated testing, underscoring their significance and enhancing the overall price structure. They provide clear points for potential trades and offer insights into the broader direction of price action.THIS DOES NOT CONSTITUTE FINANCIAL ADVICE AND IS MERE OPINION
HunnVar
LABS possibility If LABS can successfully break out of the falling wedge pattern it has been in since December and maintain a weekly close above it with a healthy consolidation period in that area, there is a potential for a rally towards the .005 region in the coming months. A favorable setup would involve RSI dropping below 30 and Bollinger Bands squeezing, indicating a possible expansion to the upside. Of course, this scenario assumes that BTC continues its upward trajectory, as it can greatly influence the broader market dynamics. DYOR. Not financial advice.
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