Reasons this trade can be interesting for fast Break out Traders:
Price is currently sitting on pre-pump support area. Price action formed a falling wedge, which tends to be bullish formation. Volume expanding significantly, somebody is definitely interested in this coin. It also can be just momentum players manipulation. <deleted>
Technical indicators on 4H chart triggered bullish divergence. RSI and Stoch are totally oversold. We can also observe that fractal candles on 4H chart with expending volume. <deleted>
Analysing dollar chart: RSI 1D is fully oversold. 20 day sma and 50 were acting as support previously. Right now, price is sitting on 100 dsma. and we can see 20dma and 50dma are crossing. 25$ also looks like psychological support. bitscreener.com/coins/populous?timeframe=1y&chart_type=candle&chart_unit=usd
Trading strategy: Price action on 1H chart looks like a double bottom. I only will buy break out from upper trend line on increased volume. <deleted> My targets will depend on fib ext. levels, price action itself and 10, 20 and 50 dma.
We can see, Ichimoku Cloud 18, 52, 104, 52 periods has established big resistance on PPT. Good thing is, Kijun Tekan Kross and penetration into the cloud.
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i will open short term position if we break through this cloud.