Zeenobit

MAID Close to Breakout

Long
BITTREX:MAIDBTC   MaidSafeCoin / Bitcoin
BITTREX:MAIDBTC is currently resting near a channel support, close to a resistance area .
A risky buy area is close to the bottom of the channel. Place tight stop-losses in case the channel is broken.
A safer buy area is on a confirmation of a breakout above the resistance.
Target is near the top of the channel, which also lines up with a previous resistance on a longer timescale.
Also note the bullish crossovers on MACD and Stochastic RSI indicators.
Trade closed: stop reached: I pulled out of this trade. With BTC's potential movement, the really low volume, and the fact that the price has crossed below the 144-period moving average, I don't think MAID is looking bullish anymore.
Comment: Looks like my forecast was right after all. Sadly, I pulled out of the trade too early.

Comments

Thanks, appreciate the analysis!
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