DLTBTC - Possible Short Term Trade
Uppdaterad
Hello Friends,
Since I have a lot of posts to write up right now, I am going to be short and straight to the point.
DLTBTC has gone through some dip after BTC fell, and I am seeing a good pattern here which is telling me that the price might bounce from here. Of course there is a possibility of it going down if BTC falls again, but support is looking pretty strong here.
MACD is pretty low below the zero line, and is straightening out here. RSI is 40 which is low, although RSI has been affected by the BTC dip so we can't say that it is over sold. But we can count it as pretty low and we know we buy and hold when this happens.
We see two diagonal channels on the chart. The blue channel is a long term uptrend channel, and the red one is a short term downtrend channel. We saw a bounce from the blue channel support recently, and there is still a possibility that it will retest that support line again, but if we bounce from that, it can head upwards to touch the downtrend resistance. If the red resistance is broken on top, it will be a breakout, and that will be a hold.
I have marked some short term resistance lines on the chart that can be referred to for setting your targets, and moving the stop losses.
I will update this trade as and when needed. Make sure you follow the chart and get a good entry, if you are planning to enter.
Join the groups below to discuss the trade with the rest of our community, and get the latest updates on coins and lessons.
Happy Trading!
Since I have a lot of posts to write up right now, I am going to be short and straight to the point.
DLTBTC has gone through some dip after BTC fell, and I am seeing a good pattern here which is telling me that the price might bounce from here. Of course there is a possibility of it going down if BTC falls again, but support is looking pretty strong here.
MACD is pretty low below the zero line, and is straightening out here. RSI is 40 which is low, although RSI has been affected by the BTC dip so we can't say that it is over sold. But we can count it as pretty low and we know we buy and hold when this happens.
We see two diagonal channels on the chart. The blue channel is a long term uptrend channel, and the red one is a short term downtrend channel. We saw a bounce from the blue channel support recently, and there is still a possibility that it will retest that support line again, but if we bounce from that, it can head upwards to touch the downtrend resistance. If the red resistance is broken on top, it will be a breakout, and that will be a hold.
I have marked some short term resistance lines on the chart that can be referred to for setting your targets, and moving the stop losses.
I will update this trade as and when needed. Make sure you follow the chart and get a good entry, if you are planning to enter.
Join the groups below to discuss the trade with the rest of our community, and get the latest updates on coins and lessons.
Happy Trading!
Trade stängt: målet nått
Whoa! DLT hit our 4th Target. It has come down, but it sure has a long way to go. I will close this trade for now, and will open up a new trade once we see a breakout opportunity.Trade stängt: målet nått
All targets reached.
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