SNM/BTC is currently on the .618 fib support level following a drop to retest the 20 MA (light-blue.) We can see the RSI also broke 70 on a previous run confirming an uptrend. We can see the 10 MA (orange) and 20 MA (light-blue) crossed over the 100 MA (yellow) and we got a move from about 900 to 1200. We have been consolidating on the .618 fib level and we've been finding resistance at the 10 MA (orange) as of recent, but have found support on the .618 fib level and on the 20 MA (light-blue.) Now, we can see the 50 MA (green) is about to cross-over with the 100 MA (yellow) and this could lead to further upside for SNM/BTC. The RSI is now at 55 after consolidating, and we have several moving averages and fib levels below our current price action which will act as support. I think there is a chance SNM could make a run to 1300-1400 sat's, if not higher (especially with the market sentiment shifting to a more bullish tone.)
Entry: 980-1000 (.618 fib level.)
Target 1: 1081 (.786 fib level.)
Target 2: 1210 (1 fib level.)
Target 3: 1374 (1.272 fib level.)
Stop-loss: 925-945 (below the 20 MA, but be aware of flash crashes/stop-hunting's as we've seen this happen before.)
--This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility.
Entry: 980-1000 (.618 fib level.)
Target 1: 1081 (.786 fib level.)
Target 2: 1210 (1 fib level.)
Target 3: 1374 (1.272 fib level.)
Stop-loss: 925-945 (below the 20 MA, but be aware of flash crashes/stop-hunting's as we've seen this happen before.)
--This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility.
Comment:
Holding that .618 fib level super well. I am still holding my SNM trade.