(Humaniq) HMQ Analysis: What Goes Around Comes Around
Humaniq (HMQ-BTC) may be repeating itself.
See the blue channels on our [1-hour] chart? Don't they look similar?
How about the double-bottom formation followed by the ramp up that occurred twice +1600 SAT (the length of the two green parallel lines, of course) to a level where it's found resistance in a similar fashion?
MACD - bullish, we're in the clear (higher lows)
RSI - bearish, market momentum has decreased only slightly, that's okay because price is still dropping toward our major support (yellow bubbles)
5 minute zoomed in chart also showing bullish signs in MACD
**Check below for details on [5-min] chart**
Entry:
3200 SAT
Targets:
[1] 4800 SAT - +33% Profit
[2] 5500 SAT - +13% Profit
Stop-Loss:
3000 SAT - -5% Loss
If we see the price break under the lower major support, then it may be our cue to cut our losses short and exit. We'll check back in a few hours to see if the price has found support at this support line.
Happy Trading Folks!
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