BAND/USDT aiming for 400%+ returns
BAND is looking pretty well primed on the 1D chart. It's completing a nice inverse head-and-shoulders reversal against support at $4, which was a 0.786 retrace from the prior high, and against resistance just below $8. I'll buy some of this now and through a zone from $7 back down to $4 as necessary. Having that downside DCA range is important because if BTC makes a big move (in either direction) then we are likely to see an alt dip, but we have support from 1D EMA200 around $5.50 and main support at $4, so it's not too likely we go below that level.
I think this will move quickly once we are through the $8 resistance, and we'll be looking for the next wave 3 to achieve a 1.618 extension compared with wave 1, up to around $32 for a 400%+ profit within 2 - 4 months. Longer term I think the target could be $50 - $80 later in 2021, but I will review overall crypto market if/when we get to the exit range to decide what percentage to sell.
I think this will move quickly once we are through the $8 resistance, and we'll be looking for the next wave 3 to achieve a 1.618 extension compared with wave 1, up to around $32 for a 400%+ profit within 2 - 4 months. Longer term I think the target could be $50 - $80 later in 2021, but I will review overall crypto market if/when we get to the exit range to decide what percentage to sell.
Trade active:
We are breaking below the rising support and orders are getting filled in my buy zone. My expectation is that we retrace from 24th Nov high to $5.30 (golden pocket) or $4.70 (0.786). $5.30 region also receives support from 1D EMA200 and it would be preferable not to dip much below that, although a 1D wick down to $4.70 would be much appreciated to fill my bags.
Shouldn't be much resistance until $11, then it may take a while to push through and break the $17.60 prior high.