HOT/BTC Take 2!! A Safer Entry, Stronger Profits
Well, everyone makes mistakes. The last chart I did for HOT HoloChain, I used the Bitfinex chart. Little did I know, there is a coin on Bitfinex that uses "HOT" as its ticker. Long story short, I used the wrong chart. I was pretty proud of that setup, too. Oh well, life goes on....
And here we have the CORRECT chart for HoloChain.
I am glad I switched charts, because my original entry at 17 satoshis now seems a bit more speculative in nature. I mean sure, HOT could always rise higher. But no, this doesn't look very safe to me anymore, and would require more research into potential upcoming news. I would wait to enter until we reach 13 and 12 satoshis, at which point I could see price reaching back up to 18 satoshis for a sweet 50% gain. We shall see...
However, I am already in this trade, so I will keep my original stop loss, which is a close below 16, and see if we can get a nice little symmetrical triangle, with a profit target of about 19 satoshis. Once there, I will exit 50% of my position and post an update. If the setup looks right, I'll keep the trade active. Otherwise, I am closing it.
Stay tuned for an analysis of TRX Tron, a coin which I think is more bullish at the moment.
Thank you all for pointing out that I had the wrong chart!!
Good luck :)
And here we have the CORRECT chart for HoloChain.
I am glad I switched charts, because my original entry at 17 satoshis now seems a bit more speculative in nature. I mean sure, HOT could always rise higher. But no, this doesn't look very safe to me anymore, and would require more research into potential upcoming news. I would wait to enter until we reach 13 and 12 satoshis, at which point I could see price reaching back up to 18 satoshis for a sweet 50% gain. We shall see...
However, I am already in this trade, so I will keep my original stop loss, which is a close below 16, and see if we can get a nice little symmetrical triangle, with a profit target of about 19 satoshis. Once there, I will exit 50% of my position and post an update. If the setup looks right, I'll keep the trade active. Otherwise, I am closing it.
Stay tuned for an analysis of TRX Tron, a coin which I think is more bullish at the moment.
Thank you all for pointing out that I had the wrong chart!!
Good luck :)
Comment:
Price is still ranging... It's going to take a lot of push/pull to bring about a swift move in either direction. For now, bots are going to continue scalping in-range. Don't get caught up in the distractions. Set your orders, and keep in touch with the rest of the market!!
Comment:
Price has been touching on 14 sats. I am glad I posted this remade chart. First target still stands, but we have not seen anything to confirm an uptrend yet. Still waiting for a proper entry. Don't really care if I "miss" it, I would rather only take the trades that are high probability to me.
Comment:
Might see some movement here soon
Comment:
There she is!! Sorry to all who waited for my target zone, it never reached that point. But I did warn yall about the movement :)