Feathercoin New ATH, Now What?
Updated
Feathercoin has recently hit a new All Time High; however, failed to break the previous resistance at 3800. (Check daily time frame previous highs and you'll be able to see what I'm talking about)
It has currently found some support at the 2500 satoshi level and needs to hold this or it may test the 2200 satoshi level. I fully expect consolidation for the next few days.
If you're still holding then I recommend you keep holding until there are exit signals because it looks to be bouncing.
EXIT SIGNALS:
Break of 2500 level = You could sell; however, there's still support at the 2200 level so I would hold. All up to you if you want to try to re-enter for lower price.
Break of 2200 level = BIG SELL SIGNAL. If you're caught holding bags after the 2200 level you could be left with a huge downtrend
ENTRY SIGNAL:
Bounce of 2200 level with decent volume behind it = This will show that the 2200 support level is strong and will be a precursor to a test of 2500/3000/3800 satoshi price levels.
Break of 3800 level = This is my personal entry signal. I will not be looking to trade Feathercoin until it can break previous high/resistance of 3800.
DISCLAIMER:
This is just my speculation. Take this advice at your own risk. Also feel free to leave any questions/comments/concerns. I'll try my best to answer all of them to the best of my ability. Good luck and happy trading everyone! :)
It has currently found some support at the 2500 satoshi level and needs to hold this or it may test the 2200 satoshi level. I fully expect consolidation for the next few days.
If you're still holding then I recommend you keep holding until there are exit signals because it looks to be bouncing.
EXIT SIGNALS:
Break of 2500 level = You could sell; however, there's still support at the 2200 level so I would hold. All up to you if you want to try to re-enter for lower price.
Break of 2200 level = BIG SELL SIGNAL. If you're caught holding bags after the 2200 level you could be left with a huge downtrend
ENTRY SIGNAL:
Bounce of 2200 level with decent volume behind it = This will show that the 2200 support level is strong and will be a precursor to a test of 2500/3000/3800 satoshi price levels.
Break of 3800 level = This is my personal entry signal. I will not be looking to trade Feathercoin until it can break previous high/resistance of 3800.
DISCLAIMER:
This is just my speculation. Take this advice at your own risk. Also feel free to leave any questions/comments/concerns. I'll try my best to answer all of them to the best of my ability. Good luck and happy trading everyone! :)
Note
My current 1HR chartIt has broken the previous high level; however, it didn't hold the 4 hour above 3800 - therefore, I'm not as bullish on FTC. However, I did enter a position at 3750. Hopefully, it can close the next candle above 3800.
Note
By the way, this is why I believe the 3800 resistance level is a key level that we have to breakIt was one of the two previous resistances before major downside. So we'll have to overcome these two hurdles before potential large upside. Best of luck everyone!
Note
Well, looks like I'm left with these Feathercoin bags. However, I'm prepared to lose a little less than half the value of satoshis in my FTC holding (up to the break of key support level of 2200).Feathercoin is my moon mission coin. If I'm ready to gain 2x, I'm prepared to lose 1/2.
In retrospect, I should have been watching charts more closely to sell for a quick flip at 3900 OR stayed out until 4hr candle closed above 3800.
Oh well, you live and you learn. Good luck out there fellow HODLers!
Note
PHEW!Actually, price shot back up to 3700 and I took a 50 satoshi loss. Not too bad.
Currently, out of FTC and am looking to re-enter on break of 3800.
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