Long
$GNTUSD setting itself up for big upside
Golem woke up from a lengthily winter thanks to the official launch of its main net. Pure fundamentals at play. As the price was holding nicely after last week pump, we confidently entered this trade around 0.43 with a SL under 0.40 on the 21th of April.
The bull case is very strong as we the price retested the multi-month resistance at $0.495 which held nicely today (22th of April). This resistance is now support and we can look higher Next stop 0.64 and ultimately 1.24. Will shave off 1/3 of position on these levels and let the rest run for free. Once above, we may rip fast under FOMO fuel.
Entries possible if we retest 0.495 or above 0.64, take profits at each level
Bear case is currently weak as long as we stay above the $0.495 support.
BITFINEX:GNTUSD
The bull case is very strong as we the price retested the multi-month resistance at $0.495 which held nicely today (22th of April). This resistance is now support and we can look higher Next stop 0.64 and ultimately 1.24. Will shave off 1/3 of position on these levels and let the rest run for free. Once above, we may rip fast under FOMO fuel.
Entries possible if we retest 0.495 or above 0.64, take profits at each level
Bear case is currently weak as long as we stay above the $0.495 support.
BITFINEX:GNTUSD
Note
Source article referring to the launch:blog.golemproject.net/ready-set-launch-b14d73ca5400
Note
First target hit! Will raise stop loss to break even.We're in overbought territory on the daily. This means we will go probably much higher.
Note
Our second target with 0.91 got hit. Let's run to the third one. As far as I'm concerned, remaining coins are free. Expecting to unload half of them at 1.22.Trade closed: target reached
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