1) Great run-up during the beginning of December
2) Price went into consolidation, as did most of the crypto market. It briefly flirted with a drop, but support mostly held. BTC, ETH, and the rest dumped much harder. This suggests strength.
3) Range expansion to the upside
Plan for this trade: taking the breakout immediately, will hold until price goes back into a range.
Initial stop: $12.90. Can also use a trailing stop of $0.86 or cut the trade on a close below the basis.
2) Price went into consolidation, as did most of the crypto market. It briefly flirted with a drop, but support mostly held. BTC, ETH, and the rest dumped much harder. This suggests strength.
3) Range expansion to the upside
Plan for this trade: taking the breakout immediately, will hold until price goes back into a range.
Initial stop: $12.90. Can also use a trailing stop of $0.86 or cut the trade on a close below the basis.
Note
Looking strong so far! Price is up 6% from entry.This is generally an example of why I like breakouts more than retracements. Strong moves in altcoins tend to "burst" rather than trend.
Stop has moved up to ~$13.30.
We're not predicting anything. We're following the market. Maybe the market gives more, maybe it goes sideways, maybe it dumps. Right now, the market is telling us there's more upside.
Trade closed manually
Price is flirting with the basis too much and will likely drop below it soon.Cut the trade here for a +3.6% move.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.