BITFINEX:XDCUSD is bullish and has broken out of daily blue downtrend line. We have multiple buy signals.
Steps to take:
Buy at lower support line OR break of upper resistance line with full open/close candle above
If you already hold XDC you can consider selling at .0739 resistance area if it creates short term rejection OR multiple sell signals
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XDC played out exactly as we expected. Possibility now of a rejection at .105 area. If we don't break and hold above this resistance XDC likely retraces back to .074 area for a retest of the breakout.
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For those holding long, what you want to see is a break of this current .105 resistance and a retest to turn that area into new support OR a retest of the .074 support and continued move up. Either scenario will be considered bullish continuation.
we broke and held above the .105. What do you anticipate the next resistance would be?
bike4sail
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@The1337, I'm not able to post an image here so here are the next fib targets.
.137
.195
.288
GarethSA
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Still think a retest of 0.075 is possible ? GREAT ANALYSIS.
Your Twitter handle link in bio doesn't work.
bike4sail
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@GarethSA, Thank you and appreciate the heads up on the twitter handle link. It should work now.
If we break down from .095 current area then .074 area is the next stop imo. XDC seems to be leading the charge for other alts right now. Bullish trend should continue after this consolidation between .074 and .105
GarethSA
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Thanks. Sold 500k at 0.110 so want to re-buy at 0.075.
It's been a big run the last few days, don't see this holding plus BTC been fighting this level for a while and it's weekend.
bike4sail
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@GarethSA, Well done! The hardest part of trading is sticking to a plan. You reached your target and sold, love it! I posted the next targets in response to another member above.