alanmasters

Status Network Token (SNT) Chart Analysis (Trending Downward)

BITTREX:SNTBTC   Status Network Token / Bitcoin
Status Network Token ( SNT ) Analysis

- This coin is trending downward. The price reached a top on the perfect 9 count on the TD Sequential indicator.

- You can see a triangle formation on the chart, which means that consolidation is happening and a breakout will happen soon after but, if you look at the indicators they are all overloaded or trending down.

- This daily chart is telling me that SNT might need a break. If the support line is broken downward, it will might go down hard.

- If it breaks up, it has to challenge the recent high and these are very hard to break looking at the indicators on the chart.

- I would sell my SNT in peace and be looking for a new entry point after the support levels are re-tested. This is if you want to continue trading this coin.

- If you are thinking long term in the range of many months then holding is really easy, as price swings are not important in a long hold.

Notes:

- Magenta line show resistance levels.
- Black lines show support.

Hope you enjoyed this analysis.
These are short term signals. This analysis won't be valid a few days or weeks from now, as the charts will always be changing. Since this is mainly a daily chart signals analysis, the signals are updated every day when a new candle is formed.

Please keep this in mind.
Comment: This coin is still consolidating, so far it has been holding strong but the indicators are still negative, it needs a huge push if it wants to go up strong.

This needs more time on the sidelines, here is the 4h chart:

This is the daily chart (possible support levels still in black):
Trade closed manually: I won't be updating this post in the future.
Thanks for your continued support.
Comment: SNTBTC:
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It's a pity. Should we expect another post connected to SNT and eventualy when? Thank you, Alan!
+2 Reply
Thanks for help
+2 Reply
alanmasters mcalbayrak
@mcalbayrak, You're welcome.
Reply
update please!
Reply
@bahmani, Update posted. I normally don't update these as these are analysis by request, but I will come by from time to time.
+1 Reply
bahmani alanmasters
@alanmasters, Thank you, I appropriate. but market these days is so unclear and I like to read your idea master :)
+1 Reply
It looks like every coin is forming a triangle and consolidating now. We may need a week or two of this to go substantially higher.
Reply
Wow, Alan. Thanks for warning us. It's looking just like NEO did this morning for a couple hours.
+2 Reply
Thanks Alan, good stuff
+2 Reply
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