This week we are looking at HOTBTC.
I picked this coin for 2 reasons:
#1 The technicals look good
#2 This is kind of a "penny-stock" coin and I'm looking to improve charting those
On the technicals: we are still in a long term uptrend that started at the beginning of this year.
This trend is holding nicely on the daily.
On the hourly we have recently created 2 levels at 27 and 28.
I would look for entry at the 28 level and have your stoploss at 27.
Regarding the targets: we have a lot of tested levels, up until the weekly level at 41 sats.
However, I would play this on the "safe" side and have to targets.
The first target being the 31 sat daily target where you sell 50% and the second target being the 33 sat daily target where you sell the other 50%.
If you want to take a little bit more risk, monitor the volume and action after the first target has been reached.
To increase risk, you could hold 50% of your trade to the 36 sat daily level.
I picked this coin for 2 reasons:
#1 The technicals look good
#2 This is kind of a "penny-stock" coin and I'm looking to improve charting those
On the technicals: we are still in a long term uptrend that started at the beginning of this year.
This trend is holding nicely on the daily.
On the hourly we have recently created 2 levels at 27 and 28.
I would look for entry at the 28 level and have your stoploss at 27.
Regarding the targets: we have a lot of tested levels, up until the weekly level at 41 sats.
However, I would play this on the "safe" side and have to targets.
The first target being the 31 sat daily target where you sell 50% and the second target being the 33 sat daily target where you sell the other 50%.
If you want to take a little bit more risk, monitor the volume and action after the first target has been reached.
To increase risk, you could hold 50% of your trade to the 36 sat daily level.
Trade active:
Looks like our entry target was hit and we are now trading this position
Comment:
We just hit our first profit target, selling 50% at 31 sats. Let’s see if we can push up to 33 sats to also hit our second target
Trade closed manually:
This coin hit 31 sats again briefly and we sold the other 50%. It’s not making the big move we hoped for. Still, we made 10,71% profit in Total.