CryptoKraze Technical Analysis
Possibility on 1 hour Chart
If you look at 30 minute chart, you will see $SNT has formed a symmetrical triangle and likely to breakout. This is very common pattern in cryptocurrencies, whenever a coin makes this descending triangle, a breakout is imminent that might happen anytime soon. If we look at RSI, it has touched 70 level and has dipped below 50 level. It has to rise up to touch 70 level again.
- I would have a buy entry at 0.00001500 with my profit target around 0.00001700 or above.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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May I share knowledge for me. I am still very stupid in this steemit.
@cryptokraze
Market is due to snap back no doubt, the question is how long it will last. With regulation on the cards and continued volitility the only real strategy is to diversify your portfolio.
Bargains are absolutely to be had, but the era of day trading is on hold for the moment, long game.
thanks for sharing! i will start following your exciting posts! Checkout my posts as well
Hello @cryptokraze and all! I was wondering how did you make the lower part of your triangle? I was trying to recreate your analysis and it seems like (maybe it happened only since then) that the lows are not touching or are actually going below the support line you drew now. It seems something like this now.
What do you think, did the formation break bearish already?