CND/BTC - Bullish setup, long term trade 500%+ with TPs and SLGood morning lads!
Market is green, and crypto-sun is shining. Today I’m sharing with you one of my very own picks and long term holds. CND is participating in the Token 2049 event in Hong Kong today, together with over 30 other currencies. www.token2049.com
On the technical part of it, CND have been making a rounded bottom curling up and well respecting levels of support and resistance. The cup which we are making now is forming above the low CND made in August 2018. This is a long term hold for me, hence why the targets are quite big.
I have entered CND all the way from 250sats to now, 380sats to get a decent DCA. If you are not yet in CND, I have placed a green box on the chart which would be a nice place to enter, and with the SL at the red line. The SL is very much dependent on your own risk management strategy, so choose this one yourself.
Targets is market in 4 zones on the chart:
773 to 819 sats.
1054 to 1126 sats
1157 to 1331 sats
2252 to 2319 sats
Thats 600% up to the highest target, reflecting the time perspective for this trade.
On the weekly chart, Maxx momentum is showing a loose TTM squeeze with momentum flipping. This week we see the first green momentum pole on the histogram for over a year.
This in combination with the price action is making this a good pick for mid-long term trades. My plan is to hold this coin until all TPs are hit. Beware this could take up to 1 year to play out, so leave this in your long-term portfolio after your orders is set. Also as mentioned, this coin is respecting levels well, so you could make some good short term scalp trades in between the levels. For now it’s important to break above 385 and hold.
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