LOOM outlook precarious
Updated
There's not a lot of history to look at here. I usually only like to enter when a coin is below 30 on the daily RSI. Here it is low on the 4 hour, but there's still plenty of room for this to go lower. If you believe in the token then this probably isn't a terrible entry, however I think patience will reveal it has lower depths to find and if it doesn't you won't miss the bottom by much on a coin that, quite frankly, could get wiped out if BTC hits areas in the 3k range. If you're simply gambling on it going up, I would look at a coin with better history. And check in on Loom again in August.
Note
This is now in what I accept as a buy zone, but I'm not buying anymore. Will HODL what I have for now.Trade closed: target reached
Entry made.
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