There are a few ways of looking at OKBTC right now and the first is that it has completed the first 5 impulse sub-waves of a broader wave one, and has completed the A,B,C correction that forms wave 2 of the broader movement. This is an attractive entry area to me as wave 3 should be at least as big as the first wave but probably bigger. In terms of % profit in this coin; the margins are huge.
Let me know your thoughts.
Happy trading.
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Another is a cup and handle pattern which is also a bullish sign.
I have a rising trend line marked on RSI which I'm interested in. It is now acting as resistance since price fell through it. A break of this would result in a break of the 55EMA on 4hr at the same time which I would consider very bullish.
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OKBTC is trying to climb above the uptrend line on the RSI. If successful this will mean price is once again above the 55EMA and the RSI is supporting upward movement again. If this 4hr candle closes above the above mentioned indicators I will consider this bullish and will add to my position here.
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Apologies for the late update.
My stop-loss hit on this trade at 1876 sats. I am currently looking to buy back in with buys down to 1447 sats.
@mohamedtopar, Hi, I consider a conservative target to be around the 0.00003000 sats so I plan to ladder in sells either side of that for a portion of my holding with the intention to buy back in on a pull-back. A more aggressive target would be the 0.00004500 - 0.00005100 sats range. I will be holding the majority of my coins though as I see a revisit of the 0.00007800 range as a possibility. Depends on your time frames. I'll try to manage this position if it does resume trending up to reduce my average investment cost. My stop-loss is set at 0.001730. I laddered in buys - I still have some open orders - but another strategy would be to wait until the RSI breaks back above the trend line (circled). You'll be buying at a slightly higher price but in a more bullish scenario.
Thanks