30 March, DENT, where will the retracement end after 0.0149?
Updated
I assumed on Sunday that the breakout would happen on Monday and it did. That's great.
Quickly got to 0.019, from there it went down to 0.014 and then it went up.
Possible retracement is
Can the price go even lower? Of course it can. Make a plan for this scenario as well.
Quickly got to 0.019, from there it went down to 0.014 and then it went up.
Possible retracement is
- 0.618 Fibonacci zone - 0.0131. At the time of writing, DENT has touched and bounced, whether it will retest depends on the shadow that is now drawn.
- Or 0.786 Fibonacci - 0.0126 - 0.0127. There is a little historical resistance in it.
Can the price go even lower? Of course it can. Make a plan for this scenario as well.
Note
I like that bounce.
Note
Looks a little bearish to me right now.
The good news is that DENT is now at the top of the triangle.
That is where the good news ends. For those in long.
Technically, if DENT breaks the triangle down, we should see 0.0114.
Resistance
0.0127
0.0120
DENT needs to break the downtrend line.
Note
Very interesting, will it bounce back or not? According to the technical analysis, there should be a breakout now.
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DENT came out of one downtrend line.
Trying to get support at 0.0130, which is a strong level that resisted several attacks yesterday.
I assume fluctuations between 0.0120 and 0.0140. Where to exit and buy depends on your level of optimism.
I don't really like big shadows - it's a sign of uncertainty. Maybe I will enter with a small fraction just above 0.0130 and more around 0.0120 to minimize the risks. Perhaps a portion around 0.0127, there was support there as well.
All in all, I believe a drop below 0.013 will be impossible in a few days (if bitcoin doesn't fall).
And what's going on right now, the 15-minute graph will tell you. We need to get out from under this line.
Note
looks much better, a bullish triangle is forming.
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I can not write much, no time, I hope that the chart is clear.
I think DENT will fluctuate between 0.0145 and 0.0160, possibly going as low as 0.0140.
Levels are all round numbers ( 40, 45, 50, 55, 60) and historical 0.0142. In this zone I was going to buy (0.01433), put OCO, but OCO triggered on the upper boundary.
Watch the green and red lines.
And, of course, keep an eye on bitcoin. Bitcoin doesn't care what we draw here.
Note
I hope this is the last post in this thread.
Maybe the current situation in DENT is a repetition of the blue square on the left?
It will become clear soon.
Do I short? If bitcoin goes up, I won't. If it goes down, I'll think about it. DENT rose 50% during the bitcoin fall as well (there was a strong fundamental base here).
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