AscendEX (BTMX) / USD - Bullish divergence

On the above 2-day chart price action has corrected almost 90% since late March. From $3 to 37 cents.

A ‘incredible buy’ alert has appeared on the 1-day chart, which is not shown here because the bullish points are more easily observable on this time frame. They are:

1) Price action has broken out of resistance.

2) A bullish engulfing candle has printed on this 2-day chart. Look left.

3) Seven oscillators are showing regular bullish divergence with price action.

4) Price action has moved to the upper half of the Bollinger Band with an impulsive move.

5) The ASD / BTC 1-day chart (below) prints a ‘incredible buy’ signal following a tests of age 3-day / 200-day EMA (red line).

Is it possible price action falls further? For sure.

Is it probable? Very unlikely.

Good luck!

WW


1-day ASD / BTC chart:

What the heck is AscendEX? A question I had just asked myself... "AscendEX is a global digital asset financial platform founded by a group of Wall Street quantitative trading veterans in 2018, building on core value of “Efficiency, Resilience and Transparency.”

ascendex.com/en/glob...gital-asset-platform

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Price action breaks out of resistance in the last few days opening the path back to $3.

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