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Blue sky breakout on high TF, or rejection?

By Socraticpause
Updated
ERD/USDT is at a crossroads. The recent success of the project and the marketing to the large population of India seems to be paying off. Not an expert on the project, just came across the chart doing a little value hunting. This one looks like it's at a crossroads. Certainly at the higher RSI levels here. Should know pretty soon which direction this one is going. Momentum certainly seems to be in the bulls favor, but keep an eye on papa BTC. Good luck!
Comment
With BTC's blessing, ERD has broken out across all time frames. Expect some increased volatility as the market tries to find a new price range. With virtually no overhead resistance, these kinds of breakouts can get really intense, really quickly. Be safe and congrats bulls.
Comment
The initial breakout was as explosive as we expected. The market has taken the last 36 hrs. to digest the latest move up. The return to the .0076 range provided a good secondary entry overnight (12% retrace). ERD/USDT seems to be gearing up for another test of a newly achieved ATH. Make sure to watch the broader crypto market for overall sentiment, and until the correlation breaks - the stock market as well. Good luck.
snapshot
Trade closed: target reached
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