Those days are past when people had to keep some of their precious assets just to borrow even a little amount of money. Today is the time of cryptocurrencies like Bitcoin, Litecoin, Siacoin, Dogecoin (and many more altcoins), which are almost going to replace the hard cash currencies moving around the financial market.
Had you ever thought of that...
I was reviewing some old charts and SALT/BTC caught my eye. SALT's price action recently did a 3x move after hitting an all-time low and broke through a major resistance trend that it had kept it down since May 2019. The price just bounced off the .781 Fib retracement level and is finding support on the MA200. There is hidden bullish divergence on the daily MACD...
Salt (SALTBTC) is starting to produce some really strong bullish action in the past 5 days.
Take a look at the chart above, we can see trading volume increasing a lot as EMA10 and EMA50 are broken.
EMA100 (purple line) is the resistance that is being challenged now. Closing above this level can push SALT to grow 100%+ easy and fast.
A close below EMA100 would...
This is done at the request of one of our readers... It is my pleasure to comply.
This is the SALTBTC Chart on Huobi.
You can see the Fib. targets (grey and orange lines with numbers to the right side). These levels/prices are where SALTBTC will find resistance on the way up (if it moves up).
The blue dashed line is the main support on the way down (if it moves...
So, last 2 days bears trying to push under 950 satoshis, but can't do it as bulls buy from this level, expecting some gains soon to 1400 level. Keep your stop around 950 satoshis. Good Luck.
Divergence on RSI and double bottom on 4h.
The unexpected Binance delisting was crippling to SALT's price, but the only reasoning was regarding the $50mil they raised for their ICO. However, I believe they will be relisted on Binance again especially before the next bull run because when that happens people will be fleeing the taxman to cash in all their crypto gains. And if any of you are as optimistic...
Another handful of coins gets delisted on Binance. The vast majority of volume for SALT is on Binance so this is not a good situation for future liquidity.
Will we get an exit pump before the 22nd...
Risk to reward 0.85
Low volume sell off.
Sell @590-597 @ 8 day moving average. Next target is 13 day moving average.
RSI support formed from 06 of February. Potential bounce zone.
MACD histogram ticking up while price going down.