SRM/BTC Early stage of the upward movement
SRM has been rising gradually against USDT since the beginning of January. In addition to this, SRM price against BTC is about the move above 50 days moving average. Since BTC loosing dominance in the market, small cap alt coins such as SRM is expected to give insane gains in this bull market.
The price will probably pass its ATM and we will be keeping eye on Fib levels to exit. Here is some Fibonacci levels where you can set your own target depending on your risk management.
Current price =0.0000484
Fib 1 = 0.000329
Fib 1.618 = 0.000515
Fib = 2.618 = 0.000814
Useful Basic System:
-Watch 7 days moving average. If daily candle closes below it, be more cautious.
-If the price drops to below 20 days moving average and closes below it significantly, take your current profit and leave until it backs above it.
Tips :
-Always take profit on the way up , price will definitely not increase forever.
-Don’t be too greedy when price moves up or don’t panic when it decreases. Relax and control your psychology.
-Make plans for every possibilities, it is not 100% accurate that what we think will happen.
-Don’t try to catch up the exact deep or exact peak.
-Don’t buy everything you found in the market.
-Don’t listen everybody who claims to be a trader or financial advisor. (Mostly avoid who is 100% sure about what they believe).
-Remember, market cycle works with human psychology and everybody’s psychologies are similar.
The price will probably pass its ATM and we will be keeping eye on Fib levels to exit. Here is some Fibonacci levels where you can set your own target depending on your risk management.
Current price =0.0000484
Fib 1 = 0.000329
Fib 1.618 = 0.000515
Fib = 2.618 = 0.000814
Useful Basic System:
-Watch 7 days moving average. If daily candle closes below it, be more cautious.
-If the price drops to below 20 days moving average and closes below it significantly, take your current profit and leave until it backs above it.
Tips :
-Always take profit on the way up , price will definitely not increase forever.
-Don’t be too greedy when price moves up or don’t panic when it decreases. Relax and control your psychology.
-Make plans for every possibilities, it is not 100% accurate that what we think will happen.
-Don’t try to catch up the exact deep or exact peak.
-Don’t buy everything you found in the market.
-Don’t listen everybody who claims to be a trader or financial advisor. (Mostly avoid who is 100% sure about what they believe).
-Remember, market cycle works with human psychology and everybody’s psychologies are similar.
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