After 2 failed attempts and a fake out, DeFi Perp has broken through its macro downward sloping trendline, backtested for confirmation and currently finding support from its 12 day MA. 2 horizontal lines of resistance before DeFi Perp challenges the ATH.
DeFi Composite Index looks good for bullish continuation after regaining 50MA support.
More information about Decentralized Finance tokens on www.binance.com
Current Price= 2365.6
Buy Entry = 2369.3 - 2343.5
Take Profit= 2444.6 | 2518.6 | 2616.1
Stop Loss= 2282.6
Risk/Reward= 1:1.2 | 1:2.2| 1:3.52
First off, this is not a financial advice. Now let's begin.
A couple of posts below I have shared my view about the Macro cycle of the BTC. It follows the cycle as predicted, but there was a factor in the beginning-mid August when billions and trillions of dollars were coming to the exchanges. I was sure that these money won't be invested in...
DeFi index lost 50MA support that was holding the up-trend and finally broke bearish.
Now retesting the wedge, seems like retracement is in play short-term before resuming bullish again!
Current Price= 2476.9
Sell Entry = 2495.9 - 2616.9
Take Profit= 2263.2 | 1986.6 | 1790.0
Stop Loss= 2810.3
Risk/Reward= 1:1.15 | 1:2.24 | 1:3.02
Expected Profit= +22.94% |...
Today’s analysis – DEFIUSDTPERPS – Treading below its Daily S/R with further downside probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Daily S/R Resistance
- Low Volume
DEFIUSDT’s immediate price action is trading below a key technical level that needs proving resistance.
The Local S/R is current support,...
DeFi index is about to break bullish, you can enter here of wait for a small pull-back!
Current Price= 1843.2
Buy Entry= 1808.3 - 1731.1
Take Profit= 1992.7 | 2131.2 | 2322.1
Stop Loss= 1591.6
Risk/Reward= 1:1.25 | 1:2.03 | 1:3.1
Expected Profit= +25.20% | +40.86% | +62.42%
Possible Loss= -20.12%
Fib. Retracement= 0.618 | 0.786 | 1
Margin Leverage= 2x
The post-traumatic stress caused by the great Bear Market of 2018 may be still vivid in crypto investors' minds.
The fear of buying the top is so intense for many traders that they see every dip around a new all-time high with great prudence. That is not a bad thing per-se. Risk management is one of the main pillars of trading. Taking profits from time to time...