Kch28

Santos +449% after BULL signal ๐Ÿš€๐Ÿš€ Retrace imminent?

BINANCE:SANTOSUSDT   SANTOS / TetherUS
SANTOS pumped 449% (green price range) after the bull Supertrend Ninja - Clean signals (green vertical line on the background).

RSI at 95 is heavily overbought. I do not see any bearish divergences forming on the RSI Brown or RSI on the daily chart . Although I expect a retrace to be likely before another run up. It really depends on BTC going sideways instead of going down more. If we take a look at the Average Directional Index ( ADX DI) its still in the bullish zone. Currently SANTOS is way above its Basis Bollinger Band , Band Basis 20 Period SMA . And above the LSMA as well.

A healthy retrace first, before another run up to is a possible scenario. But it most likely needs BTC to go sideways for this to happen. Buying here is NOT recommended. Support and resistances are highlighted as grey and light green horizontal blocks.

Remember to always take profits and use proper risk management!

Thank you for reading.
Namasteฬ ๐Ÿ™

Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.

What Indicators Do I Like To Use:
I am using the "Supertrend Ninja - Clean", which is a trend-following indicator (Green and red vertical lines on the background). When the background of the candlestick closes green (vertical line). It indicates a possible bullish (up)trend. And red for possible downtrends.

Beware of scammers. I do NOT have Telegram, Discord, Instagram, Twitter, Youtube or Facebook.

Tradingview is the only channel I use.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.