zoltasaur
Long

Clear cup and handle forming/resistance and support levels

BINANCE:SUBBTC   Substratum / Bitcoin
TLDR:
Support: ~6400 and ~6000
Resistance: 7200 and 7500
Target:
1) 7500
2) ~10000

Cloud signals: Currently we are testing the support line of ~6400 sats . This is indicated by the Chikou Span (yellow) and previous price action. If we do not hold here, we are likely to retest the ~6000 level of support. This support is given by the Chikou span, the Kijun Sen (brown) as well as previous price action. Not shown, but TK cross on the daily xD

RSI signals:We had a bear divergence (yellow circle, RSI: lower highs, Price: making higher highs), which lead us to where we are now. If we cross the 50 level it is likely to test the next level of support ( ~6000). I will wait to see if we find support around the 40 (previous support) I will add to my position.

Disclaimer: overall I am bullish on the short term and long term with SUB. I plan on The news recently with the net neutrality coming into effect will be some good publicity for them and prove that there is a real use case for them if they can deliver. I heard rumors they will be featured on a major news network as well in the coming weeks, if anyone can confirm please link below. I could only find a Reddit user posting about it.

I am new to TA and looking to improve so please leave any comments or questions below.

Happy trading!

Comment: I am opening a short position at ~7500, after hitting our first target. There is a regular bear div (price making higher highs, RSI making lower lows). My target is ~6800 based on the Chikou, fractal levels and previous price action.
Comment: S/L ~7600. This a very key level. There is a massive daily cloud which begins at ~7600. If we breach this level we may see an edge to edge trade.
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