Moeda Retraces 70% After doing 620% Bull Run (What Next?)

Updated

Moeda Loyalty Points (MDABTC) did something beautiful when it went on a 600%+ bull run, giving us an early signal of how other altcoins would move. Following MDA’, many other altcoins generated massive profits, we were more than happy to enjoy those and now more opportunities are developing.

There are endless opportunities within the cryptocurrency markets, and more opportunities will always come.

Let's take a quick look at MDABTC once again.

After the huge bull run, MDA’ had a 70% retrace and people are asking me if it is time to move up.
On the chart above you can see an orange line, which is the EMA200 indicator. If this level holds, we can resume another wave up, thinking that the correction is over.
If the orange line doesn't hold, we can expect further retrace until support is established. Once MDABTC finds support, another up wave can resume.
For now, we can consolidate sideways and watch price action for a clear breakout signal. We look to break above EMA50 (magenta line) first.

Weekly chart:

Thanks a lot for reading.

Hit LIKE if you enjoyed this post.

Namaste.

Note

Comment by SQ88
Relevant info for those buying and trading Moeda (MDA).

Thanks for the work Alan! Good to note is that there are 2 new Seed projects coming out this month and will be presented by the the team :) Last but not least is that they are on the work to create the Moeda debit card. " Average knowledge about breath equals sight of the top of an iceberg "

Note

MDABTC broke up and is now trading above EMA50. This is a bullish signal:

Note

Moving up nicely... Enjoy the profits.

Namaste.

Note

141% total profits on the second run.

AlanSantana

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