Long
TNT vs BTC Long
TNT has been moving within this wedge. I am opening a long position.
TP: 0.0001
Duration of trade: 1 year.
TP: 0.0001
Duration of trade: 1 year.
Trade active
nice bounce. movement within the wedge.Trade active
looking good for a breakout.Trade active
TNT has the nicest descending wedge forming. We are looking for a breakout in between 2 days and 1 week. Target 1: 2600Trade closed: target reached
Target 2: .00004200Target 3: .00005400
Long term target:
.0001
The breakout happened within our time frame and decided to come in the first part of the window.
Here is where things get tricky. This was an increase of 170% in a 6 day period. This came smashing a new ATH. I would expect a retracement along the downside of the equilateral triangle in the short term. Support is in the 1600- 1900 levels depending on how many days it takes to retrace. There could also be a move into consolidation.
Use capital management to assess your gains. I have sold 15%
Right now there is a divergence in high trend and low trend. It is possible, that price continues to climb, but it is unlikely based on this TA.
Trade active
It did indeed fall downward. It has broken the upward trend line and is not looking for support in the 1600 levels.
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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.