Get started
UnknownUnicorn1314136

Over 30:1 Reward/Risk Is Worth A Shot...

Long
BitShares / Bitcoin (POLONIEX:BTSBTC)  
UnknownUnicorn1314136  
POLONIEX:BTSBTC   BitShares / Bitcoin
Support and Resistance Trend Lines Multiple Time Frame Analysis trendlinesmatter BTSBTC riskrewarddoesntlie worthashot cryptotrading cryptocurrencies altcoins btcpair
5
1
supportandresistance trendline mtfa trendlinesmatter btsbtc riskrewarddoesntlie worthashot cryptotrading cryptocurrencies altcoins btcpair
Trading some cryptocurrency pairs over the long holiday weekend to get my fix, what can I say... Anyway, I like this pair right now, trading on Poloniex. It's receiving around the 5th most volume in the BTC trading pairs, and looks technically interesting atm. Weekly chart posted below to get a look at that overhead downtrend resistance line, because price is at a critical point tapping on that resistance. Also seeing a nice bullish RSI divergence both weekly and daily. If it were to break through, say to .0000036, that could signal the end of the 5th wave down and the beginning of the A-B-C corrective retrace. If so, first and second targets are shown on the chart, representing 100% and 200% gains, respectively. For the risk/reward ratio to work stop loss should be set just below previous posted lows, so set at .00000319. As I have said before I am an owner of BTC, a believer in it and a few altcoins, and an absolute stalwart believer in the power of blockchain to be a disruptive and then market standard tech. Hope everyone is having a good holiday weekend! Happy hunting and GLTA!!
snapshot
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.