CryptoKraze here
Possibility on 30 Minute Chart
If you look at 30 minutes chart, you will see Steem Dollar has made a big impulsive move and now it has formed a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pulls back and waits for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has to dip to 50 level now, so we have a pull back done and next impulsive move is ready. If we look at bollinger bands, the price has touched upper bands and now it will reach median line and then break above.
- I have a buy entry at 0.00051000 with my profit target will be around 0.00070000 or above.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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Really nice, great insight gotten from you bro
impressive analysis and i really like the flag patterns that's making trading understanding properly.
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thanks for the warning at the end of the post. We all have to be careful in any business we do, even though that taking risks in business is key.