alanmasters
Long

DENT Prints Highest Volume Bar Ever, Bullish Divergence & More

BINANCE:DENTBTC   DENT / Bitcoin
We have been tracking DENT (DENTBTC) for a while now and even shared a few trades for it, only a few targets were hit and DENTBTC didn't take off in March 2019 like most of Binance altcoins did, so we made little profits compared to the standard for cryptocurrency. (The standard is basically huge/crazy/amazing earnings/profits, hundreds of percentages in gains).

Instead of moving up strong, DENTBTC was one of the few that continued to move lower, now we have some promising signals as to a potential impulse to the upside coming soon.

Feel free to hit like now, if you want to, and let's continue with this chart analysis... Thanks a lot for the support.

  • We can see a major trendline marked red. This will be strong resistance on the way up and can easily match EMA100.

  • We are looking at the biggest trading volume since DENTBTC was added to Binance. On the 15th March, we saw similar huge volume , but DENTBTC didn't make it above EMA100 (blue line). This time things are different, let's take a look at why.

  • We can see very strong bullish divergence building up on the MACD . We also have a young bullish crossover.

  • DENTBTC is bouncing after just hitting a new all-time low and the RSI is moving up with great momentum.

  • Can close above EMA10 (signal yet to be confirmed, daily candle yet to close), giving it more bullish potential, and with good volume .

These are really bullish signals which support additional bullish action in the weeks to time. We have to wait for the daily and weekly candle close for confirmation, but I am already expecting massive bullish action on mid-May for most of Binance altcoins, so these signals go together with and support my general view of the market.

With all of the above said, I would still use a stop-loss when trading just in case. Always have a plan and make sure to sell on target and collect profits on the way up.

All details are marked on the chart.

Thanks a lot for reading.

This is Alan Masters.

Namaste.
Comment: Let's take a quick look at DENTBTC, the bulls are following up and this is great for our trade.

Let's start with the weekly chart:

- Volume is clearly increasing.
- We are looking at a Doji or Hammer candlestick depending on the weekly close after today.
- RSI is oversold and coming out of it.

Daily chart:

- The bulls are following up on the 26th April breakout.
- Now trading above EMA10.
- The RSI is showing good momentum.
- Get ready for profits.
- DENTBTC might take the lead on the next altcoins bullish wave.
Comment: ENJOY THE PROFITS.
More to come.

Targets:

(1) 18 -Reached 28-Apr. (+28%)
(2) 21 -Reached 28-Apr. (+50%)
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Related Ideas

Thank you! I learn a little bit more everyday from you!
+1 Reply
alanmasters davewoj1971
@davewoj1971, Great to know, thanks for the feedback and support.

Namaste.
Reply
Thanks for the idea. Really appreciated.
+1 Reply
alanmasters irfanali741
@irfanali741, It is my pleasure. I appreciate you taking the time to comment.

Namaste.
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