!! Potential 57% Return on Investment for Bread !!
Hello fellow charters/traders,
!!This is just a trading idea and not trading advice!!
And i'm a dutch guy so my english writting ins't that well.
Followed a trading course and have been reading some books about trading and wanted to share my idea.
Why is BRD-BTC so interesting at this moment?
In the last few days we've seen some interesting developments in volume for BRD. A nice green printed candle show there was a lot of buy interest.
The price didn't pumped so traders were scoopin up big ammounts of BRD when it hit the market.
Price is increasing nice and slowly and the chart shows some nice bullish candles on the D chart.
3 inverted hamers tell me bulls are getting interested while bears run out of steam.
Orderbooks are thining out as well.
What else is there?
Besides increasing volume macd has crossed since the 15th.
As well TSI has crossed so there is more strenght in buy orders then sell orders.
In the chart there are 2 resistances coming up for BRD.
The first resistance has got a number 2
RSI looks a bit oversold so i do not think were going to break that resistance without a fight, if we do so, a massive pump will follow.
This means resistance with number 3 will break in an instance. (could be a good scenario looking at the volume increasing).
If this scenario plays out we'll be able to harvest 57% return on investemnt
I'v longed a position @5600 and 5700 (green support line with number 1)
If resistance number 2 holds we'll see a retest of the rsi with a pullback to the green line as shown in the chart. If MACD and TSI bounch we'll see some more action to the upside.
For now this is a weak support but can develop in a strong support in the near future if it gets tested some more.
Stay safu, don't let emotions take the better of you!
!!This is just a trading idea and not trading advice!!
And i'm a dutch guy so my english writting ins't that well.
Followed a trading course and have been reading some books about trading and wanted to share my idea.
Why is BRD-BTC so interesting at this moment?
In the last few days we've seen some interesting developments in volume for BRD. A nice green printed candle show there was a lot of buy interest.
The price didn't pumped so traders were scoopin up big ammounts of BRD when it hit the market.
Price is increasing nice and slowly and the chart shows some nice bullish candles on the D chart.
3 inverted hamers tell me bulls are getting interested while bears run out of steam.
Orderbooks are thining out as well.
What else is there?
Besides increasing volume macd has crossed since the 15th.
As well TSI has crossed so there is more strenght in buy orders then sell orders.
In the chart there are 2 resistances coming up for BRD.
The first resistance has got a number 2
RSI looks a bit oversold so i do not think were going to break that resistance without a fight, if we do so, a massive pump will follow.
This means resistance with number 3 will break in an instance. (could be a good scenario looking at the volume increasing).
If this scenario plays out we'll be able to harvest 57% return on investemnt
I'v longed a position @5600 and 5700 (green support line with number 1)
If resistance number 2 holds we'll see a retest of the rsi with a pullback to the green line as shown in the chart. If MACD and TSI bounch we'll see some more action to the upside.
For now this is a weak support but can develop in a strong support in the near future if it gets tested some more.
Stay safu, don't let emotions take the better of you!
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