CryptoKraze here
Possibility on 1 Hour Chart
If you look at 1 hour chart, you will see Parkbyte has made a big impulsive move and now it has to form a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pulls back and wait 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 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 will have a buy entry at 0.00015000 with my profit target will be around 0.00020000 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.
Well done excellent analysis we want more and any training information would be well received I have just started trading and want to know how to read the charts thanks @cryptokraze.
Thank you for this informative post, Really helpful and well written @cryptokraze
Very helpful analysis, but I have a question?
Well I haven't traded much yet in cryptos so I don't won't to be vulnerable and loose all my money, so if I start with 50$ I it okay?And which coins would fit with this value?
$50 is not much to be honest. First learn. Observe then put 200$ to start
I started with £30 to be honest and made gains of £500 in 4 weeks and just use the money to reinvest. Can you recommend any sites or books that I can use to really be able to analyze the crypto data it would be really appreciated thanks @cryptokraze. Rule of thumb do not trade more than you are willing to lose right?
Hey man could you help me know how you did it or could you recommend some website or something from where I can learn about this?
$50 is fine you can find coins for less than a cent if you go to Coin market cap you will find all the crypto currency which are on the market with all their uses links chat rooms, white papers and the use of the currencies then you either a buy with bitcoin or etheruem.
just amazing analysis . wondering that Parkbyte is listed on binance or not?
Bittrex
thank you . just followed you :)
@cryptokraze do you use trade view as a guide to the market activites? Are their any tools I can use to learn how to read charts any links books or sites will be well received.