Scoutly AI (SCOUT) - Bullish
Updated
Scoutly AI is Solana blockchain project that offers AI sports betting analysis. A lot of micro cap crypto projects usually hit ATH and retraces substantially (80%). I wait for momentum indicators (MACD, RSI, and Stochastic) to go into oversold territory and come back to the bull territory to see if the project will survive (battle tested). Scoutly AI just completed the major correction and and price is strongly boucing up. This is not a meme coin, but it is a project that has a real use case and their betting analysis is at this stage about 80%. So fundamentals are good as well. in 4 H chart, MACD, Stochastic and RSI all crossed and entered the bull territory (above 0 for MACD, above 50 for others). 0.01 region is a good area of entry. For crypto small caps, I usually buy underlying asset, so I don't have specific stop loss and profit target. I will take profit in stages when momentum indicators in 4H chart start to show clear negative divergence.
Trade active
The price is pulling back at the moment. I am watching if the price will form a bottom at 0.06 zone and bounce back up to form inverted head and shoulder pattern. Trade closed: target reached
Since the last post, the price has recovered from the anticipated zone and it looks like it is slowly forming inverted head and shoulder pattern. Momentum indicators are clearly entering the bull zone. Hopefully volume picks up and pushes the price higher.
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