Nowadays, GoChain is on the end of falling wedge, where I expect breakout. It means, that our buy zone is point of breakout or double bottom. Target for falling wedge is height of start falling wedge. This height you put on point of break and it is your target. Watch out for rezistences, you can close small ammount of your position there.
GO found support at 140 and is near the trendline covering over 3 month period (from 31/03 => 11/06 => 02/07). Doesn't mean it will change the trend, but may pump a little, unless get dumped by BTC before that.
CryptoTrades channel trade setup:
Pullback buy zone 135-140
Targets 152 - 157 - 168
HODLer's candy 179
Stop loss below 134
Stopless strategy - double...
So, looking at RSI indicator we can clearly see double bottom pattern. The pattern itself indicates trend reversal.
Based on price action several days ago from 106 satoshis to 160, I can say that people started to accumulate GOBTC slowly.
First price level that we have to break is 300 satoshis, after which 400 fib price level has to be broken for further...
THIS IS NOT A TRADING ADVICE
DO YOUR OWN RESEARCH AND ANALYSIS BEFORE ENTERING ANY TRADE
TRADING IN CRYPTO IS VERY HIGH RISK
PLEASE USE STOP LOSS TO CEASE PROFIT AND COMMIT TO RISK MANAGEMENT
BUY ZONE : 125/135
PRICE NOW : BINANCE:GOBTC
TARGET 1 : 187 ( 43 % )
TARGET 2 : 212 ( 63 % )
TARGET 3 : 237 ( 80 % )
STOP LOSS : 1 DAY CANDLE -24 HOURS -...
GO is breaking out of a 4 months trendline (from 31/03).
Volume is still low but might pick up soon, the next resistance which was the previous support is around the 140-160 satoshi area.
Stop loss is at 100 satoshi area.
$GO Showing some volume momentum as it bounces from ATL BTC support at ~125sats...
UCTS Buy signal on the 6H was printed and we may have a chance to reach resistance at ~226sats... (if btc allows it)
If taking this trade, 145/146(LH) as stop loss seems right.