TROY / BTC - A 65% correction since early April with oversold condition (orange column) and ‘incredible buy’ opportunity, now is an excellent time to be bullish. Why?
On the above weekly chart:
1) Price action breaks out of resistance.
2) Price action prints a bullish engulfing candle after finding support on the 786 golden ratio (not shown here).
3) Stochastic RSI (circled in purple) crosses up 20 after a 120 days since crossing down 80. Very bullish.
4) On the 2-week (below) chart price action recently prints a Dragonfly DOJI candle. You don’t often see those on the alt-coin / BTC charts, but when you do…
Is it possible price action falls further? Sure.
Is it probable? Very unlikely.
1st target 6000 sats.
2nd target 13k sats
Good luck,
WW
The 2-week chart:
