THCBTC trade ideas
HempCoin THC break signalAfter successfully breaking upwards from the bullish pennant of my previous THC-BTC TA, THC is now about to test the 885 Satoshi resistance line within 24 hours.
The odds of continuation of the rise are in its favor given the bullish momentum so far, news/hype surrounding the "weed coins" and the fact that it is a relatively low volume coin that easily spikes when gaining momentum.
If it would however fail to break the 885 Satoshi resistance line, it might drop to the 645 Satoshi support line. When it breaks 885 resistance THC targets are 1100, 1225 and its all time high of 1290 Satoshi.
THC-BTC HempCoin about to break bullish pennantThe THC bullish pennant is about to break. The orange lines are based on the 1 day chart candles, the green and red lines are based on the 30 minutes chart candles.
It has a high probability to break upwards, given the long term bullish trend and increasing general momentum for the "weed coins". If an upwards break generates a big pump it could test and possibly break the all time high of 1290 Satoshi.
$THC break is imminent!!Looks like $THC is about to breakout. MACD crossing after consolidation...This coin is poised to take the helm with the booming recreational marijuana industry. You can't go wrong with $THC in the long run. $HODL this ticket...I believe that the last few days have shown its underlying potential. Look for stability if $BTC cools down more than one day. With futures out and no huge sell off consequently, $btc will continue looking bullish. This is a great time to buy $THC...I don't see it lower than 700sats in two weeks.
Marijuana Coin - $THCSo today i decided to look at a coin that broke up a few days ago (i didn't get in before the call), The Hemp Coin or $THC.
At a high of 1290 Sats 1 day ago, it has dropped about 50-55% of its value to 500+ sats today. I will be looking at the market trend now.
The horizontal dashed line is a support/resistance line that has been tested and proven itself many times in the past. Further, this line has been further supported by the ichimoku clouds that lend strength to this support. As we can see, $THC has tested this support last night and have yet to break under it. I think that $THC will continue to test this line judging from the consistent bears and reduced volume.
My opinion is to HODL until it closes under the support (then you should sell off majority of your holdings in $THC) OR look to buy if it closes under.