DNTBTC Bullish 137% Profit
Updated
Hey Guys:
BINANCE:DNTBTC is our next coin of discussion.
It looks as though we are in the back-half of a potential cup-and-handle forming on our 1 day chart for BINANCE:DNTBTC.
Entry Point:
Should the cup come to fruition, we should wait for the handle to form before making a decision. Should a handle form before breaking out past the 0.236 Fib level, we can enter our trade with a buy order set on the other side.
Target Points:
(1) 0.00001910
(2) 0.00002232
(3) 0.00002553
(4) 0.00003010
(5) 0.00003593
Stop Loss:
We're going to wait until this trade develops some more before determining a stop-loss.
Indicators:
Moving Averages
Sniper T3-CCI
Notes:
It looks as though we should see a rise to at least 0.00001513 before reaching our first Fibonacci level. There may be some opportunity to ride the wave over the next few days.
We'll update as time passes.
Good Luck!
-Matt
BINANCE:DNTBTC is our next coin of discussion.
It looks as though we are in the back-half of a potential cup-and-handle forming on our 1 day chart for BINANCE:DNTBTC.
Entry Point:
Should the cup come to fruition, we should wait for the handle to form before making a decision. Should a handle form before breaking out past the 0.236 Fib level, we can enter our trade with a buy order set on the other side.
Target Points:
(1) 0.00001910
(2) 0.00002232
(3) 0.00002553
(4) 0.00003010
(5) 0.00003593
Stop Loss:
We're going to wait until this trade develops some more before determining a stop-loss.
Indicators:
Moving Averages
- A smart move might be to wait for the 20-period EMA (Orange) to cross our 50-period MA (Blue). This would serve as another confirmation of the bullish trend.
Sniper T3-CCI
- Our T3-CCI is already showing a strong uptrend. Although, we should wait for one or two more candles to close before using it as a confirmation of the rise.
Notes:
It looks as though we should see a rise to at least 0.00001513 before reaching our first Fibonacci level. There may be some opportunity to ride the wave over the next few days.
We'll update as time passes.
Good Luck!
-Matt
Note
I forgot to mention the volume for this coin.We've had a steady decline in volume over the past two months and it appears to be rounding out the bottom of the decline. We would love to see a gradual increase in volume as the price rises.
-Matt
Note
If you look at the chart below, you'll see that we've already dropped below the 0.786 Fibonacci level. Notice that I've used the Fib Retracement tool instead of the Trend-Based Fib Extension. We'll wait to see how this support holds up before making our next decision.
-Matt
Trade closed manually
We will revisit once a new opportunity arises.-Matt
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