Reasons why it can pump:
1. We had that big bullish divergence on a big time frame (14.08.2018 - 12.09.2018), which played played nicely and recently turned into a nice ascending channel.
2. Resistance was tested a few times and was finnally breached. If we bounce from the dynamic support, we`ll be looking to test the upper side of the channel. However if we breakout of the channel, the support at 610-620 will most likely hold, given that the previous resistance was thoroughly tested.
3. Lastly, they`ve announced their partnership with Amazon Web Services China to develop blockchain-as-a-service solutions for enterprises and developers.
As a more conservative approach as i bought in at 640 sats will be to set a stop loss at 629-630, meaning we`re out of the ascending channel, and look for a lower buying entry point while we`re testing the horizontal support.
Selling target: 700-720 sats
1. We had that big bullish divergence on a big time frame (14.08.2018 - 12.09.2018), which played played nicely and recently turned into a nice ascending channel.
2. Resistance was tested a few times and was finnally breached. If we bounce from the dynamic support, we`ll be looking to test the upper side of the channel. However if we breakout of the channel, the support at 610-620 will most likely hold, given that the previous resistance was thoroughly tested.
3. Lastly, they`ve announced their partnership with Amazon Web Services China to develop blockchain-as-a-service solutions for enterprises and developers.
As a more conservative approach as i bought in at 640 sats will be to set a stop loss at 629-630, meaning we`re out of the ascending channel, and look for a lower buying entry point while we`re testing the horizontal support.
Selling target: 700-720 sats
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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.
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.