LDO PRICE DISCOVERY TRAJECTORY
Hello!
A close friend of mine asked me to look into LDO for him so here we are!
Looking at LDO, a lot of confluence on my favorite indicators.
After the daily close recently, the price is now in discovery mode, a parabolic movement is noticed, which might increase the possibility to push price higher.
The RSI shows aggressive accumulation, ready for flying past the overbought region showing off the bullish strength.
MACD has just crossed over towards bullish and it looks like there's a lot of room and strength to go up before any further correction.
The latest daily candle that has closed has formed a bullish engulfing pattern, with it's head high above in the price discovery zone,
I've personally set the stop at 25% because I feel there's a chance it might test the parabola before continuing further upside, incase BTC decides to correct due to its evidently bearish divergence build up after the shoot up to 25K.
PS: if BTC closes above 25K this weekly candle, the bulls will takeover the market structure, which means we could expect LDO to be far above $3 in the weekly candle closing, and further upside continuation might follow hand-in-hand with the fresh bull-run.
Incase BTC corrects deeply and LDO weekly closes below $3, I might update this trade and consider closing it based upon how the chart looks like.
Good luck, and happy trading!
Please don't over-leverage or leverage at all if possible on this one!
A close friend of mine asked me to look into LDO for him so here we are!
Looking at LDO, a lot of confluence on my favorite indicators.
After the daily close recently, the price is now in discovery mode, a parabolic movement is noticed, which might increase the possibility to push price higher.
The RSI shows aggressive accumulation, ready for flying past the overbought region showing off the bullish strength.
MACD has just crossed over towards bullish and it looks like there's a lot of room and strength to go up before any further correction.
The latest daily candle that has closed has formed a bullish engulfing pattern, with it's head high above in the price discovery zone,
I've personally set the stop at 25% because I feel there's a chance it might test the parabola before continuing further upside, incase BTC decides to correct due to its evidently bearish divergence build up after the shoot up to 25K.
PS: if BTC closes above 25K this weekly candle, the bulls will takeover the market structure, which means we could expect LDO to be far above $3 in the weekly candle closing, and further upside continuation might follow hand-in-hand with the fresh bull-run.
Incase BTC corrects deeply and LDO weekly closes below $3, I might update this trade and consider closing it based upon how the chart looks like.
Good luck, and happy trading!
Please don't over-leverage or leverage at all if possible on this one!