C98 in falling wedge- potential reversal soon
Updated
C98 is a native token of C98 wallet which claims to provide cross-chain solutions (more research needed). After initial pump it has gone into phase of correction in which it formed an obvious falling wedge.
The price is currently bottoming inside the pattern as the formation is getting tighter. MFI and RSI divergence is visible on 1h timeframe.
Depending on your intentions of course, this could be an opportunity for a short-term trade until price reaches the top of the formation, as well as a dip buy for long-term hodl.
Entries:
Long term targets only:
TP1: 4.06
TP2: 4.60
TP3: 5.30
TP4: 6.37
TP5: OPEN++
(short-term traders will figure this out themselves)
Remember about risk management, especially that BTC has been quite volatile lately.
The price is currently bottoming inside the pattern as the formation is getting tighter. MFI and RSI divergence is visible on 1h timeframe.
Depending on your intentions of course, this could be an opportunity for a short-term trade until price reaches the top of the formation, as well as a dip buy for long-term hodl.
Entries:
- Aggressive- now (3.40)
- Safe- after the price breaks out of the formation and holds the upper trendline level (around 3.90-4.06 assuming the price would spike now)
Long term targets only:
TP1: 4.06
TP2: 4.60
TP3: 5.30
TP4: 6.37
TP5: OPEN++
(short-term traders will figure this out themselves)
Remember about risk management, especially that BTC has been quite volatile lately.
Note
Friendly reminder:Short term traders- The price is up 11% from entry, don't get baited by short term recovery and lock in some profits. BTC may as well dump any second. You can always re-enter later.
Moved SL to entry.
Note
TP1 (4.06) -- +19% ¬¬ done
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