#XEC March 2024 Halving - Long - Potential 91.16%
Direction: Long
Market: Spot
Risk: 0.25% - 1%
#USDT_XEC
Exchange: BINANCE
Timeframe: 3D
TP1: 5450
Entry: 2851
STOP: 1587
If you are looking for emerging opportunities during what looks like an upcoming correction in crypto then XEC might be a sleeper hit for the latter part of the year. XEC has a fixed supply of 21 trillion (linked to the satoshi cap) and like BTC has a halving scheduled for March 2024 when its inflation rate will fall dramatically from 1.73% to 0.83% which should have a significant impact on price (especially in a frothy market around the upcoming BTC halving).
Its currently trading at the top of its formation (a bullish falling wedge) so DCA'ing into this position early might be smart with small incremental buys possible down to the lower trendline or you could wait to buy the confirmed break of the upper trendline. I'm not yet decide how I'll enter so let me know your thoughts DCA now with conviction or sacrifice some profit later for more conviction with a confirmed breakout with volume?
Market: Spot
Risk: 0.25% - 1%
#USDT_XEC
Exchange: BINANCE
Timeframe: 3D
TP1: 5450
Entry: 2851
STOP: 1587
If you are looking for emerging opportunities during what looks like an upcoming correction in crypto then XEC might be a sleeper hit for the latter part of the year. XEC has a fixed supply of 21 trillion (linked to the satoshi cap) and like BTC has a halving scheduled for March 2024 when its inflation rate will fall dramatically from 1.73% to 0.83% which should have a significant impact on price (especially in a frothy market around the upcoming BTC halving).
Its currently trading at the top of its formation (a bullish falling wedge) so DCA'ing into this position early might be smart with small incremental buys possible down to the lower trendline or you could wait to buy the confirmed break of the upper trendline. I'm not yet decide how I'll enter so let me know your thoughts DCA now with conviction or sacrifice some profit later for more conviction with a confirmed breakout with volume?