Long
Long-term Opportunity
Hi traders,
From the chart, you can see two downtrends. The first is major and the second is minor. Currently, the price tries to break out the minor trend.
If it is successful, the next target would be the major downtrend. For the major downtrend, it is in that trend for about 60 days. To break out them, it needs huge volume on the area indicated with vertical yellow rectangle in the chart.
After all happens, we can talk the next target. On the other hand, I would expect a new ATH. Its previous ATH is 1$ and its current price is 0.08$. That means nearly 12.5x profit if you wait for re-test and take a position.
For margin traders, It would be ideal to take a positions after re-tests and take profit just before the resistances.
Finally, the reason I believe this can be successful at breaking out the trend lines is that there is RSI positive divergence as you can see from two dip.
Stay safe and wealthy ^^.
From the chart, you can see two downtrends. The first is major and the second is minor. Currently, the price tries to break out the minor trend.
If it is successful, the next target would be the major downtrend. For the major downtrend, it is in that trend for about 60 days. To break out them, it needs huge volume on the area indicated with vertical yellow rectangle in the chart.
After all happens, we can talk the next target. On the other hand, I would expect a new ATH. Its previous ATH is 1$ and its current price is 0.08$. That means nearly 12.5x profit if you wait for re-test and take a position.
For margin traders, It would be ideal to take a positions after re-tests and take profit just before the resistances.
Finally, the reason I believe this can be successful at breaking out the trend lines is that there is RSI positive divergence as you can see from two dip.
Stay safe and wealthy ^^.
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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.
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.