✳️ Clover Finance Marketwide Trading Basics Perception Explained

29 thg 2, 2024

Clover Finance actually produced really strong negative action on the last four days; so why are we here?

➖ CLVBTC (Clover Finance) hit a low of 96 satoshis yesterday.
➖ On 9-Jan. the low was 94 sats.
➖ On 24-Oct. '23, the low was 96 sats.

This action is similar to the inverse Head & Shoulders pattern. Three drops with the one in the middle being the lowest.

The fact that CLVBTC found support yesterday above its 9-Jan. low can be considered a bullish signal. Not that this is a bullish chart, but it is a trade-able setup.

Why?

Because you can enter with very low risk.
The risk can be defined as a close below the bottom-low, in this case 94 sats.

We say, "If prices move and close daily (or weekly) below 93 satoshis, we close the trade."
Any trading above this level and we hold patiently.

Knowing and seeing hundreds of Altcoins starting to break bullish turns this into a trade-able chart setup. This is marketwide perception.

Of course, the downtrend stopped in June 2023, so CLVBTC has been going sideways for almost 8 months.

After the consolidation phase is over, it is the bulls turn.

Namaste.

17 thg 3, 2024

Ghi chú

Clover hit a nice 90%+ but it is still early.
We will revisit soon as there is room for additional growth; share a new update.