SOT 2.0 - Chartoff Submission Week 3

Updated

Observations:
- DLTBTC appears to follow an uptrend (pink) since Feb 18

Rules:
- Wait for the price to break the short downtrend (blue) and holds on the daily level (2572 - white).
- We set our target below the hourly level of 2756. We may however see higher targets (e.g. 3004 or 3237) in the coming days, as established levels were already tested.

Our setup:
- Entry: 2572
- Target: 2747 (Profit: 7.00 %)
- Stop: 2482 (Loss: 3. 22%)

Trade active

As expected, we broke the downtrend (blue) and price started to pump. We entered at 2572

We now see two possibilities illustrated by this updated version of the chart.
- Either we stay above the new uptrend and quickly reach of target
- Or, we drop below the new trend and based on Volume/Interest, we postpone our target for a few more hours/days.

Note that a new emergency exit as been set. Should the price falls below 2641, we recommend to keep a strong eye on it, and be ready to sell if the price drop further.

Note

- We unfortunately went below our emergency exit.
- However, this short drop was due to BTC suddenly going down, taking many ALTS down.
- We maintain our trade and see how BTC reacts.

Note

Hope you did hold your position despite our visit near to the Stop area (and even a bit further), now that BTC seems to stabilise.

Trade closed: stop reached

Flash sell occurred. Our Stop loss has been reached.

CryptoSparkling

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