BSV/BTC 1D (KuCoin) Bounced on descending channel support
Updated
FA: Bitcoin Satoshi Vision is a hard fork of Bitcoin Cash, which is a hard fork of Bitcoin itself, all Proof of Work (POW) protocol.
Those 3 coins dominate the crypto market as they are in Top 5 market cap (excluding USDT) and they all halved their mining rewards few months ago.
TA: BSV (also known as BCHSV) is in that parallel channel since beginning of the year and start looking like a bull-flag to me.
Few days ago it bounced on support which makes it a demand zone, and right now it looks oversold that's I'm expecting it will up.
Current Price= 0.017221
Buy Entry= 0.017250 - 0.016550
Take Profit= 0.021280 | 0.024520 | 0.028150
Stop Loss= 0.014710
Risk/Reward= 1:2 | 1:3.48 | 1:5.14
Expected Profit=25.92% | 45.09% | 66.57%
Possible Loss= -12.96%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 1x | 3x | 5x
Estimated Gain-time= 1080h
Those 3 coins dominate the crypto market as they are in Top 5 market cap (excluding USDT) and they all halved their mining rewards few months ago.
TA: BSV (also known as BCHSV) is in that parallel channel since beginning of the year and start looking like a bull-flag to me.
Few days ago it bounced on support which makes it a demand zone, and right now it looks oversold that's I'm expecting it will up.
Current Price= 0.017221
Buy Entry= 0.017250 - 0.016550
Take Profit= 0.021280 | 0.024520 | 0.028150
Stop Loss= 0.014710
Risk/Reward= 1:2 | 1:3.48 | 1:5.14
Expected Profit=25.92% | 45.09% | 66.57%
Possible Loss= -12.96%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 1x | 3x | 5x
Estimated Gain-time= 1080h
Trade active
All entries filled!Trade closed: target reached
TP1 was missed by 0.000002 BTC but I think we can count that as a success with +25.90% from average entry (129.50% using 5x margin leverage)I took some nice profit and will wait for higher targets!
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