Long
(Humaniq) HMQ Analysis: What Goes Around Comes Around
Humaniq (HMQ-BTC) may be repeating itself.
See the blue channels on our [1-hour] chart? Don't they look similar?
How about the double-bottom formation followed by the ramp up that occurred twice +1600 SAT (the length of the two green parallel lines, of course) to a level where it's found resistance in a similar fashion?
MACD - bullish, we're in the clear (higher lows)
RSI - bearish, market momentum has decreased only slightly, that's okay because price is still dropping toward our major support (yellow bubbles)
5 minute zoomed in chart also showing bullish signs in MACD
**Check below for details on [5-min] chart**
Entry:
3200 SAT
Targets:
[1] 4800 SAT - +33% Profit
[2] 5500 SAT - +13% Profit
Stop-Loss:
3000 SAT - -5% Loss
If we see the price break under the lower major support, then it may be our cue to cut our losses short and exit. We'll check back in a few hours to see if the price has found support at this support line.
Happy Trading Folks!
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.