TRADE ALERT - LONG JOE

#joe #joeusdt #defi #altcoins #tradealert #tradesetup #tradesignals

Yes, I know. The altcoin market is very nervous. And rightfully so. But Defi does especially well comparatively when regional banks are faltering. Right now, regional banks (KRE) are moving down and becoming weaker once again. Could we see more defaults? Probably. But this isn't about regional banks, is it? We're looking at JOEUSD, a nifty little Defi play. So, aside from fundamentals, let's take a quick look at what the technicals might be showing us here:

#1. Bullish divergence on the RSI. And every time we hit that slowly ascending RED TL, the price moves up rapidly. I like the probability here.

#2. Price support on that RED TL which intersects with a nice level AND the bottom of that triangle, making it a huge area of confluence where support is strong.

#3. That triangle though.

I have entered here at .265 and will be pulling profits along the way (especially at those moving averages). The final target is around .45 with a SL at .235.

This is not financial advice. Just showing you all what I am doing here.

Best,
Stew

Links