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Altcoin Break-out Study in detail.
1. Breakout pattern
2. Accumulation
3. Breakout with volume
4. EMA bullish crossover
5. Breakout confirmed with a retest
6. Support established with EMA and Accumulation resistance.
7. Exit
A thread.
1. Breakout pattern
2. Accumulation
3. Breakout with volume
4. EMA bullish crossover
5. Breakout confirmed with a retest
6. Support established with EMA and Accumulation resistance.
7. Exit
A thread.
I had shared a PDF about trading Altcoins on Telegram.
I showed my Neo trade back in 2017-18.
I will be taking the same example here to-
1. Identify a Breakout
2. Entry
3. Exit using the Bitcoin cycle. (Altcoins FOLLOW Bitcoin Price cycle. Explained earlier.)
I showed my Neo trade back in 2017-18.
I will be taking the same example here to-
1. Identify a Breakout
2. Entry
3. Exit using the Bitcoin cycle. (Altcoins FOLLOW Bitcoin Price cycle. Explained earlier.)
One of the most common Breakout patterns on most Altcoins is Cup and handle.
The name isn't important, it's basically a smooth bottoming with another retracement, that's smaller.
This is followed by either accumulation or any other bullish pattern.
The name isn't important, it's basically a smooth bottoming with another retracement, that's smaller.
This is followed by either accumulation or any other bullish pattern.
After the Cup and handle formation, a period of consolidation occurred. (Very common)
We could only guess if it was a bullish consolidation or not, at that time.
We will discuss below how a guess could have been made about it being an accumulation.
We could only guess if it was a bullish consolidation or not, at that time.
We will discuss below how a guess could have been made about it being an accumulation.
During accumulation, the average volume rises for the first time, on a bearish candle.
However, in this instance, the movement, when studied with volume closely, isn't bearish in nature.
This is explained in the chart.
However, in this instance, the movement, when studied with volume closely, isn't bearish in nature.
This is explained in the chart.
This is clearly followed by the volume expansion continuing.
The price rise to the resistance and volume continuing about the average volume.
I've explained previously how, the more times resistance is tested, the weaker it becomes.
The price rise to the resistance and volume continuing about the average volume.
I've explained previously how, the more times resistance is tested, the weaker it becomes.
A clean volume Breakout with volume expansion and follow through.
Accumulation confirmed.
Study the chart below.
Accumulation confirmed.
Study the chart below.
This is the interesting part, as for most accumulations, we see
1. Retest
2. S/R flip (previous resistance becomes support)
3. 50 EMA now acting as a support, front running the trend.
1. Retest
2. S/R flip (previous resistance becomes support)
3. 50 EMA now acting as a support, front running the trend.
Perfect entry is made when
1. EMAs crossover had been bullish
2. Accumulation confirmed
3. Retest and S/R flip
5. 50 EMA acting as support
1. EMAs crossover had been bullish
2. Accumulation confirmed
3. Retest and S/R flip
5. 50 EMA acting as support
This was a lucky catch with a bit of skill and a lot of luck as described in the PDF.
The RR here was massive.
I was lucky to be in the right place and at the right time.
Many people bought it at a lot lower and sold much higher.
The RR here was massive.
I was lucky to be in the right place and at the right time.
Many people bought it at a lot lower and sold much higher.
As described, Altcoins FOLLOW BTC.
The Chart of BTC perfectly matches Neo or any other alt with a delay.
One could easily study the Bitcoin cycle and predict the top on Alts, as seen here.
Remember, the Alt cycle follows BTC price cycle.
The Chart of BTC perfectly matches Neo or any other alt with a delay.
One could easily study the Bitcoin cycle and predict the top on Alts, as seen here.
Remember, the Alt cycle follows BTC price cycle.
Study this to master pattern breakouts, confirmation, entry and potential exits.
You can find all the other threads and my best trades Setups on telegram
https://t.me/EmperorbtcTA
All the best! Share it if you found it helpful, traders need it!
You can find all the other threads and my best trades Setups on telegram
https://t.me/EmperorbtcTA
All the best! Share it if you found it helpful, traders need it!
