- crossover of 9 and 26 Moving Average below cloud (weak), heading towards breaking out of cloud and confirming breakout (Not yet confirmed)
- Broke out of 3083 Satoshi resistance and testing it as support
- looks like it's crossing over to the side
- Trade is very high, can be enough to push over the
- in oversold region and is turning down suggesting a retrace (relatively small retrace)
- Inverse candle | If candle closes red and the next candle is red also, this confirms retrace
1) 3083 Satoshi level tested and confirmed as support, breaks cloud and breakout up is confirmed
2) 3083 Satoshi level tested and fails as support, retraces to 2467 Satoshi , confirms support and reverses to form uptrend
3) 3083 Satoshi level tested and fails as support, retraces to 2467 Satoshi , fails as support and continues downward movement
To buy this coin, wait for breakout to be confirmed above the cloud. Take profit at targets shown by light blue lines. Sell if Moving Averages have a crossover. (I will update this Analysis as this occurs)
To short this coin, wait for 3083 Satoshi support to be broken, wait for next candle to be red and then short. End short at just over the 2467 Satoshi level. If further breakdown occurs, short and end short at around 1870 Satoshi where bottomed.
Set your stop loss accordingly.
Any comments or messages will be much appreciated. If you want me to do some on any other coin, please let me know!
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I am not a financial adviser, please trade at your own risk.