Troy / btc New Binance Coin. Channel 17%. Pivot Points. Target.

After adding the coin to the Binance exchange there was an impulse. On the rollback of prices, a lateral movement began, which formed a horizontal channel of 17%.

The price has already confirmed the local support / resistance levels three times. The channel exists for 2 weeks. There will be a denouement soon.

The coin is currently being traded on Binance (4 pairs) and Bilaxy (no liquidity). Roughly speaking, it is traded only on Binance.

TARGET and ENTRANCE.
1) The potential movement within the channel, if the price drops to the bottom of the channel and there will be confirmation of the level of support.
Pivot points and levels on the chart.
2) Work and entry on the breakthrough of the channel resistance level or rollback after the breakthrough.
Pivot points and levels on the chart.


It is worth noting that in addition to the goals of the channel itself 16%, all other levels are conditional, like a coin does not have a trading history.

If support for the channel breaks through and the price is fixed below it, you should forget about the coin, and wait for a new good entry point with an understandable potential movement.

Never freeze money in coins unless you intentionally gain a position by pushing the price to your main set area.

Stop loss
Under key support levels during your entry into the market.
Do not forget to move Stop Loss during the price increase, but take into account the volatility of the coin.

Comment:

The price is at the bottom of the channel, a high probability of this movement to the resistance of the channel. Stop Loss under the channel support line.

Trade closed: stop reached:

channel support has been broken. We are waiting for a new entry point.