Long
SoT 2.0 Chartoff May, Week 2
Updated
This weeks coin is Aeternity.
AE has seen some substantial gains yesterday when it rose about 15% in a matter of hours. It stopped almost exactly on the 924 daily level.
I think the move down after touching the 924 daily level was a retrace and the further move down from the 882 12 hourly level was due to BTC moving again.
AE broke a 4 hour downtrend yesterday before it’s move up. It also tried to break a daily downtrend and shortly succeeded until it dumped back below it today.In a few days, AE will test a long term weekly downtrend.
AE is currently riding a 4 hourly uptrend which started a few days ago. At the time of writing, it’s testing the 813 4 hourly level. That’s where we are looking to enter.
On the downside I can see some for of support on the uptrend and also on the 788 daily level. That’s why we have the stop loss just a little bit below that on 781.
On the upside, I can see AE trying to test the 924 level again which it managed to do so yesterday. The 882 12 hourly level has already been tested a couple of times recently so I don’t expect that to limit a move up too much. That’s why I’m aiming for the 924 level. However, I’m looking to exit at 919 which is just a few sats below the 924 (in case it fails).
AE has seen some substantial gains yesterday when it rose about 15% in a matter of hours. It stopped almost exactly on the 924 daily level.
I think the move down after touching the 924 daily level was a retrace and the further move down from the 882 12 hourly level was due to BTC moving again.
AE broke a 4 hour downtrend yesterday before it’s move up. It also tried to break a daily downtrend and shortly succeeded until it dumped back below it today.In a few days, AE will test a long term weekly downtrend.
AE is currently riding a 4 hourly uptrend which started a few days ago. At the time of writing, it’s testing the 813 4 hourly level. That’s where we are looking to enter.
On the downside I can see some for of support on the uptrend and also on the 788 daily level. That’s why we have the stop loss just a little bit below that on 781.
On the upside, I can see AE trying to test the 924 level again which it managed to do so yesterday. The 882 12 hourly level has already been tested a couple of times recently so I don’t expect that to limit a move up too much. That’s why I’m aiming for the 924 level. However, I’m looking to exit at 919 which is just a few sats below the 924 (in case it fails).
Trade active
We entered the trade. Current price is 810Note
Actually missed out on this level I marked. After breaking through the 813 4 hourly level, the 849 4 hourly became resistance again.
This doesn't change the trade too much though, since this is a 4 hourly level and it showed it breaking yesterday.
Seeing this level now, I expect some touches / tests of the 849 4 hourly level again before the move up towards the 924 daily level.
Target remains the same.
Note
Meant to make the line a non-dotted lineTrade closed: stop reached
Things looked good until BTC jumped up above 6k and made the alts drop again. We got stopped out
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