The last support for ERDBTC was sitting at 15 satoshis and was broken on the 13th of March.
A new low was hit at 13 but the charts for ERDBTC remain super bullish, why is that?
When a strong support is broken you expect to see big volume bars, yet, the trading volume here is really low. The MACD is also printing bullish divergence.
So this support is taken out as a "stop-hunt", the bots are looking for liquidity and this activates all the stop-loss. (We use manual stop-loss so we are not affected by this).
Prices for ERDBTC are very likely to move back above resistance really soon.
Make sure to have a plan if you decide to trade this pair... What would you do if you buy now but instead of going up, ERDBTC starts to crash strong... Will you sell at a loss? Will you wait? If you wait for how long or how deep?
Always build a strategy BEFORE you buy/trade in order to avoid difficult situations. Knowing what to do and when before buying, will surely help you become a better trader and produce way better results.
ERD still look weak.
This is one of the rare coin who is not make any retrace after drop.
I am not sure what to expect.
Mainnet is close, game is on waiting for approving, every week new news and partnership.
But price is in downtrend.
Here is patience a key for sure.
Namaste.
I’ll unfollow you for this trash. If that isn’t the easiest quickest way to lead your “followers” to going broke idk what is! You have the pair as ERD/BTC when BTC is TANKING. Put up ERD/USD. If you actually used “mental” stop losses you would have sold days ago. Now you want people to buy your bags. #dirtcheap
AlanSantana
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@Jferriera, Patience is key.
AlanSantana
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It is moving positively now and paying. @Jferriera,
AlanSantana
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@Jferriera, Maybe you want to follow again... I always mention that you need to be patient and that it can take months for any trade to fully develop.
This is one of the rare coin who is not make any retrace after drop.
I am not sure what to expect.
Mainnet is close, game is on waiting for approving, every week new news and partnership.
But price is in downtrend.
Here is patience a key for sure.
Namaste.