🔥 ID Bullish Break Out After Months Of Selling
Updated
If you enjoy this analysis, please give it a like and a follow.
ID is one of the newer tokens on Binance. At the start of the listing it showed some strength, but has sadly been selling for months at this point.
However, ID has broken out of a one month downtrend by breaking through a diagonal resistance line, see chart.
My assumption is that, with some luck, we can at least get back to the May highs. For an optimal risk-reward I'm betting on a reversal in the short-term, but not below the most recent swing lows of around 0.248. This results in a very good risk-reward of well over 22.
ID is one of the newer tokens on Binance. At the start of the listing it showed some strength, but has sadly been selling for months at this point.
However, ID has broken out of a one month downtrend by breaking through a diagonal resistance line, see chart.
My assumption is that, with some luck, we can at least get back to the May highs. For an optimal risk-reward I'm betting on a reversal in the short-term, but not below the most recent swing lows of around 0.248. This results in a very good risk-reward of well over 22.
Note
Entry hit
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.