Not financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.
It's been a few days since I've taken a good look at this. It's not because I am not interested but it's because we're consolidating. It's not as easy to see on the daily chart but I've chosen to use this so I can show the whole history of HOT.
This is still considered a pretty new asset so I am skeptical on market moves but if elliott waves are your thing then we're definitely in wave 4 right now. That means the high probability trade is to go long around 30 sats and stop loss around 29 or 28.
Why am I contradicting my previous thoughts on HOT? Well, this is proof that time tells all things. Back then we didn't get the support at 29 yet. I originally thought we were in an ABC correction but it looks more like an ABCDE wedge.
If this breaks up, past 36 first, then past 41, then ultimately past 46, I'm looking at an exit somewhere between 50 and 54 but will look at the reaction there. For me, it's not about how much profit you make on a trade, it's about how much you're willing to give back to the market. Everybody wants to sell the top but that doesn't always happen. Even if it hits 54, and your sell is at 54, doesn't mean your order will fill. If we stall at 54, I'll go ahead and sell likely at 53 as I will want to just get out and not hope for my 54 order to fill.
Keeping it simple for today. These are my thoughts. Low risk trade if you can get a buy around 30 or 31. Stop loss at 29.
Trade safely friends! Patience almost always pays off.
<3 -CE-
It's been a few days since I've taken a good look at this. It's not because I am not interested but it's because we're consolidating. It's not as easy to see on the daily chart but I've chosen to use this so I can show the whole history of HOT.
This is still considered a pretty new asset so I am skeptical on market moves but if elliott waves are your thing then we're definitely in wave 4 right now. That means the high probability trade is to go long around 30 sats and stop loss around 29 or 28.
Why am I contradicting my previous thoughts on HOT? Well, this is proof that time tells all things. Back then we didn't get the support at 29 yet. I originally thought we were in an ABC correction but it looks more like an ABCDE wedge.
If this breaks up, past 36 first, then past 41, then ultimately past 46, I'm looking at an exit somewhere between 50 and 54 but will look at the reaction there. For me, it's not about how much profit you make on a trade, it's about how much you're willing to give back to the market. Everybody wants to sell the top but that doesn't always happen. Even if it hits 54, and your sell is at 54, doesn't mean your order will fill. If we stall at 54, I'll go ahead and sell likely at 53 as I will want to just get out and not hope for my 54 order to fill.
Keeping it simple for today. These are my thoughts. Low risk trade if you can get a buy around 30 or 31. Stop loss at 29.
Trade safely friends! Patience almost always pays off.
<3 -CE-
Trade active:
We've seen a bit of a breakout and I sold some of mine at 37 and just accumulating at 35.
