DATAUSD trade ideas
DATAUSDT resuming Uptrend on the Weekly Chart (+72% expected)Hi,
after channel break confirmation in March 2020, DATAUSDT started to grow.
After 9 weeks correction, seems to have found support on the weekly 20MA and now bouncing out of the descending wedge.
RSI and MACD show a possible trend inversion.
Volume is expected to boom after such a long thin range.
A convenient Stop loss could be placed under 0,054$ (local uptrend line on the daily chart) for a 1:10 risk/reward.
Below weekly 20MA this analysis is invalidated. Can be used as stop loss alternative.
First target is retest of the last high at around 0.10$ (+72% at the time of this analysis).
Other targets can be found in the chart.
Ciao,
Ready to an other leg outNice hold on major support and RSI at the bottom of the range. So RSI in Daily TF formed the bullish divergence with price.
The entry and close points suggested on the chart.
DATA/USD - Potential Break from Downtrend- DATA has been on a consistent retrace since falling through support about a week ago.
As this retrace meets the lower support look for the potential break to the upside.
(Watching for a positive retest of support or break where indicated)
25% over the next 7 days is not out of the question here but remain cautious, *those that longed early may be looking for an out as price turns around.
As always, not financial advice, just my own TA and thoughts.
Bingaz
