Long
Morpheus.Network (MNW) brewing a potential 100-150% move
The chart speaks for itself. It's hard to determine with altcoins whether the moves are based on BTC moves (in most cases yes, but sometimes altcoins live their own life depending on whether they are "pumpable" or not). In any case, as long as BTC doesn't fall off a cliff, this move should play out. Worth taking a long position here.
- The completion of the right inverted shoulder is indicated by lines crossing at $1,95ish and $2,22ish respectively. We could expect retraces here.
- If IHS plays out, the sell orders should be placed either at $2,95-$3,00 (safe option) or at $3,92-$4,00 (aggressive and more risky option).
See below the bounce off of 20MA on the weekly chart as I was not able to insert more indicators due to free version of TradingView.
- The completion of the right inverted shoulder is indicated by lines crossing at $1,95ish and $2,22ish respectively. We could expect retraces here.
- If IHS plays out, the sell orders should be placed either at $2,95-$3,00 (safe option) or at $3,92-$4,00 (aggressive and more risky option).
See below the bounce off of 20MA on the weekly chart as I was not able to insert more indicators due to free version of TradingView.
Trade active
20MA, dark orange line, indicating a nice bear trap bounce:
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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.