After a nice spike and some consolidation, NCASH/BTC (on Binance) found support around 0.00000425 and is forming a Flag/Triangle pattern at the moment.
Heading to its Apex now so look for a break of the flag on the upside, with increasing volume for another leg up.
If you want to day trade NCASH/BTC take into consideration that it had spiked for quite some time now and it's rather high on the 4 hour RSI and MACD so don't be too greedy on this trade and take profits along the way.
Trade instructions if you want to trade NCASH/BTC.
Entry: At the break of the flag/triangle and preferably price above the 12 and 50 ema line.
Stop: 0.00000419 (just under support)
Profit: 1. 0.00000486 2. 0.00000514 3. 0.00000542
Obviously, you can take profits anytime you want but these are some (key) short-term resistance levels.
Also, remember to always take profits along the way to reduce risk. This way you can be more patient with your trade going forward.
Leave a comment if you have any questions.
And until next time, good luck with your trading!
Trade active
⋅
As long as the upward trendline (dark blue) is still intact, then NCASH/BTC is still on an upward trend.
If you're not in the trade yet, the best time to enter now is when NCASH/BTC moves up again from the trendline with (more) volume and it's above the 12 and 50 ema. Volume and hype need to get back to have it moving again.
Comment
⋅
Sorry but the trendline is not dark but kinda light blueish
Comment
⋅
I want to provide a quick update cause a few people have asked for it cause the above trade is not active anymore but I do want to point out the RSI and MACD divergence on the 15m timeframe:
NCASH/BTC is oversold in the short term and looks to be ready for an oversold bounce.
If you want to trade this, here are my trade instructions:
Now let's see if we can get a good bounce out of this one and good luck with your trading!
Trade active
⋅
NCASH/BTC is bouncing good at the moment. Don't forget to take profits along the way and don't be too greedy now cause it can drop quickly as well being a little overextended at the moment going from the bottom.
And congrats on the people who took the trade and profit from it!
Trade closed manually
⋅
Closing the trade cause NCASH/BTC made the bounce I was looking for and won't hit the 3e target anytime soon and BTC is dumping at the moment as well.
Better to lock your gains if you haven't already and congrats on the ones who profited from the trade as I did, awesome job!
@x0crypto, yes that's why you have to take profits along the way and manage your risk accordingly. This was a quick day trade idea and also warned that NCASH/BTC already had a big run the past days so on the 4 hour timeframe it was overbought quite a bit so that's why I said, don't be too greedy with this trade ;). But thanks for commenting!
x0crypto
⋅
Hi, please do keep this updated daily! That would be awesome sir!
Trade_Masters
⋅
@x0crypto, can't promise but thanks for the reminder and just added an update.
SG12345
⋅
@Trade_Masters it will be good if u update it regularly. i mean once a day.. But although thanks for the TA.
Trade_Masters
⋅
@SG12345, Thanks for the comment and tip. Just updated the idea.