When is better to Buy $ALT đ°đ°đ°
I have analyzed the $ALT chart, especially for you
1D - moved in a descending wedge (channel), broke upward.
We worked out the C wave according to Elliott.
4H - the price is clearly in the buyer's zone. The price came out of the downward channel upward. Retested the upper boundary of the channel.
RSI is neutral, MACD has approached a bearish crossover.
20 EMA below 200.
1H - 20 EMA broke through 200 upwards, the price left the descending channel, retested the upper border of the channel once, and bounced off the 200 EMA - I entered into a trade. There was an extended bearish divergence on the MACD at the time I entered the trade - I didnât notice it. Now there is a bearish divergence on the RSI.
đ» Summarise
locally we can go even lower to the lower border of the channel and there we need to observe how the price will behave.
If you look at the daily TF, it looks long, and according to the chart where you can take into account the formation of a new cycle according to Elliot and indicators that have cooled down.
It is possible to enter a trade with targets at đ„ 0.70 đ„ when a new 3rd wave is formed.
