bitdoctor

HYDRO - Spiraling Death or a steal?

BITTREX:HYDROBTC   Hydro / Bitcoin
Not financial advice. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.

There's definitely not a lot of history to see here on the charts but around the end of April there was a decent amount of volume that totally rejected this asset. I honestly have no idea what HYDRO is and couldn't care less. The charts, however, don't paint a really good picture. Although that is what people could have said about just about every crypto out on the market.

We've been on a slow bleeding path and I have yet to see some actionable bullish divergence . This is extremely risky as every single tick is a decent amount of percent change. I would buy as close to 14 as humanly possible and if it breaks 14, get out and look for a better entry.

Side note - RSI looks just absolutely terrible in this zone. There are also all major moving averages up north that will definitely cause resistance.

Chances are, as long as this doesn't get delisted, it's going to pump.

This isn't a serious trading idea. This is a gamble. You are gambling that this is going to bounce here, because there are no technicals in this zone outside of the bounce at 14 about 2 weeks ago.

The honesst trading strategy would be to wait for some of these moving averages to cross bullish and confirm support on a retest. Otherwise, you will have extreme resistance at 28, 29, 31, 32, and 38. Granted 19 to 38 is a 100% move, if it can get there without dipping deeper.

Trade safely friends.
<3 -CE-
The BitDoctor Team
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