Time to get the BANDBTC back together?
Updated
BANDBTC feels like the neglected step child of crypto, constantly playing second fiddle to LINK.
After a couple days decline BAND posted it's first strong candle. This coincides with it breaking below it's MA 100.
It's possible we might see a little bump from BAND here. Still risky to say as this support level has no historic data to draw from.
RSI has crossed and looks strong. MACD still questionable, though the daily MACD doesn't seem to be a good indicator of movement historically for BAND.
Overall, I'm predicting further declines, though short term gains could be in order with the current chart. If the market recovers this week and the stocks don't keep going down, this further decline may be invalid.
BUYING IN?
If I'm buying in right now, I'm doing one of two things: 1) looking for a modest 15-30% gain and setting a stop loss tight to the recent low of .0005230. This is a high risk move, if I'm making this, it's with a relatively small amount of capital, 2-5%, with the intention that if it goes south I will make up the losses off the bigger drop later. or 2) looking for a modest 15-30% gain but with a much smaller amount of capital, with the intention that if it goes south I will DCA at a lower price for an eventual bounce.
Realistically, proper balance of risk would be seeing how the market plays out after the weekend. Low volume on the markets right now, so can't really trust the movement until we see more data. If things take off this week, you won't miss THAT much profit by waiting a bit to confirm.
Safe trading :)
I'm a simple guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
Likes, feedback, criticism and crude humor are always welcome :)
After a couple days decline BAND posted it's first strong candle. This coincides with it breaking below it's MA 100.
It's possible we might see a little bump from BAND here. Still risky to say as this support level has no historic data to draw from.
RSI has crossed and looks strong. MACD still questionable, though the daily MACD doesn't seem to be a good indicator of movement historically for BAND.
Overall, I'm predicting further declines, though short term gains could be in order with the current chart. If the market recovers this week and the stocks don't keep going down, this further decline may be invalid.
BUYING IN?
If I'm buying in right now, I'm doing one of two things: 1) looking for a modest 15-30% gain and setting a stop loss tight to the recent low of .0005230. This is a high risk move, if I'm making this, it's with a relatively small amount of capital, 2-5%, with the intention that if it goes south I will make up the losses off the bigger drop later. or 2) looking for a modest 15-30% gain but with a much smaller amount of capital, with the intention that if it goes south I will DCA at a lower price for an eventual bounce.
Realistically, proper balance of risk would be seeing how the market plays out after the weekend. Low volume on the markets right now, so can't really trust the movement until we see more data. If things take off this week, you won't miss THAT much profit by waiting a bit to confirm.
Safe trading :)
I'm a simple guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
Likes, feedback, criticism and crude humor are always welcome :)
Note
Interesting weekend and Monday morning. With further market movement BAND seems to be remaining solidly above the marked "unsure" resistance. If this continues we can expect a retrace to at least .382 FIB, right around 0.0009 BTC.Keep an eye on it if the market keeps dropping, if the resistance holds start the buyin.
Note
Pretty strong candle today. let's see what happens the next few days.
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
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