Trade Duration: Medium
Huobi Token (HT) is the native token for the exchange Huobi Global. Huobi has a sophisticated model providing analysis for the entire blockchain asset ecosystem. Strategic insights based on research, trends, and 50+ unique indicators to properly evaluate investment potential and risk....
As you can see in chart that we are making W pattern and W pattern is completed now we will see a M pattern now the half part of M has formed and now half is remain so we see a little rise toward 46000 but after that price will fall
So our target is following
We easily see in chart that pich fork gives suppot to the hourly candle but it's come in the pink area of cloud so we will see HT in red for next few hours
Sell target are the fib levels and pichfork next line
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Seems that HT is building a pennant below that green resistance box.
Kind of a risky trade, so stop loss is a bit below the next support line.
Would take partial profits around that red line, but if we get there, I expect more of HT.
Buying the retest of that green box when we break through it, is another option you could go for.
This is a possible short term move for HT if we breakout of the ascending triangle to the upside.
There is also a very strong FA with HT. They recently announced their first Prime listing and can only be purchased with the HT token. In order to participate in the next Prime listings, users must hold 500 HT for a minimum of 30 days before the next listing.
As TA shows above that HT is very bullish at the moment. Considering Huobi's upcoming token sale (ICO, IEO or whatever they call it) will create a higher demand. Also Huobi stated that the other upcoming token sales will require investors to hold at least 500 HT for 30 days in order to participate in token sales which will cause a lot higher demand.
This is not...