MASKUSDT trade ideas
An Altcoin Pump PSAJust wanted to point this out for anyone who did not know or have trouble remembering.
Monitor your favorite coins and follow the trends. Your charts should look similar and consist of the cup and handle formation before looking for your entry.
Don't always just jump in after a pump already started. You need to be able to catch the move first and DCA into them.
An important thing to keep an eye out for is the Volume rising above their 10 day average and the indicator widget flashing a Strong Buy signal.
Those are just a few things to monitor when looking for your next altcoin.
If you have never experienced a parabolic Altcoin run up. the best advice I can give you is to just let it run. If the coin is actually a decent project, it will continue to retest ATH and push past it creating and even larger cup and handle pattern for a new ATH price target.
I would not recommend shorting for extended periods of time. Pumps can go way higher and way faster than you can expect.
Regardless, most alts you buy now while they are down will eventually pump a modest 50-150%, and more commonly will retest their All Time High.
MASK 1HR Setting Up To Retest Recent High & Breach ResistanceWhat a nice few weeks it has been trading and following MASK/USD!
Currently there are chart dynamics that could push us towards more bullish price action!
MACD & Stochastic are turning vertical and Price action has reacted off of strong resistance level of $6.67 now turned support.
I think we will rapidly test the recent candle body high of $7.80 with wicks into the low $8's and breach past it.
Following a big move we should then sell off and look to find support on those same price levels...
Could see $11 before the sell off but thats pure speculation.
My Opinion Only.
Not Financial Advice
MASK// Symmetrical Triangle (Update)Current accumulation phase and triangle forming. A break and close above on the 4H will likely bring forward a decent pump to possibly make a new ATH.
A break below would likely provide an equal effect.
Symmetrical Triangle - Lower highs, higher lows.
Previous Analyses linked.
MASK// Long OpportunityRecent price action shows $Mask has formed a W-Reversal pattern to which price pulled back to the broken resistance turned support - which was also near the 61% zone.
This W pattern doesnt have a flat bottom therefore it boasts a slight uptrend line that price is likely to respect on the next touch. From here we can expect price to have a safe support for entry.
An adequate SL would be placed below the TL around the 78% zone.
🆓Mask Network (MASK) Aug-2 #MASK $MASKBuying power has appeared at the $4.50 zone and if it doesn't lose this zone to fall back to the $3.50 zone, it will continue to rise to the $6 and $8.5 zone this August.
📈BUY
🔴Buy : 4.4-4.6$. SL if B
📉SELL
🔴Sell : 5.85-6.15$. SL if A
🔴Sell : 8.3-8.7$. SL if A
♻️BACK-UP
🔵Sell : 4.4-4.6$ if B. SL if A
🔵Buy : 3.4-3.6$ if A. SL if B
❓Details
🕯Timeframe : 1 Day
📈Red Arrow : Main Direction as BUY and SELL section
📉Blue Arrow : Back-Up Direction as BACK-UP section
🟩Green zone : Support zone as BUY section
🟥Red zone : Resistance zone as SELL section
🅰️A : The Close price of candlestick is Above the zone
🅱️B : The Close price of candlestick is Below the zone
Mask Network: Waiting for the "Coinbase Effect" MASK has fallen steeply over the past four months. MASK is currently down a whopping 86%.
This trading idea needs the full price chart of MASK which is available on the Huobi Exchange. See the full chart and my idea described here:
Sincerely,
Bullbearish
(I'm a Bull. But Bear happens!)
PS: Nothing I post should be construed as trading or financial advice.