Databinance
DATA reached previous accoumlation zoneDATA / BTC
Price was in downtrend channel and dropped to the previous accoumlation zone (157-105 sats)
Last time From this area we had massive bullish rally to 1100+ sats !!!
Now we wait Bullish signs here first before a buy descision specially if BTC dominance start to decrease will be a good signs for alts like DATA
But best safe buy area is :
if price also managed to break trendline resistance and flip the next resistance in my chart into support ..if that happened it will open more targets for bulls to achieve
Good luck and happy trading 🌹
DATA downtrend continue?Trade in profit! Push up Like button if you like my reviews and help you understand the current market situation! Subscribe to the channel and stay tuned for trading ideas that are not trading recommendations.
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DATA/BTC (Testing Previous Resistance; Flip to Support?)BINANCE: DATABTC
-Streamr DATAcoin is testing the major support area during its downtrend
-The support zone at 369 sat is previously resistance twice
-This is a good chance to flip this area into new support
-If you are a support buyer, this zone is a perfect entry with tight stop loss
-But if you want a conservative entry position
-I suggest waiting for the mid trendline resistance breakout
-Base from trading history, midline breakout result to a retest of the upper line areas
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DATA/BTC (Rejected @ Trendline Resistance)DATA/BTC
-Streamr DATAcoin got rejected by the trendline resistance
-The price is likely to go back down to retest the previous Low support
-The 400 sat area is a previous resistance turned support
-If the price hits that level, the chances of another bounce up reaction are high
-But I will always recommend opening a Buy order only if there are Bullish signs
-Because if there will be no sign of reaction at potential support
-It is likely to fall lower and cut through the support area
-That's why waiting for the right formula will reduce the risk involved
DATA/BTC (Pullback, Retest New Support?)DATA/BTC
-the trendline resistance has been broken to the upside
-but the price has retraced and potentially will reset the new support
-the highlighted green area if the immediately level needs to hold
-to continue its uptrend short term bias
-for now, there is no major red flag yet
-we will have to observe the situation in the coming 3-5 days
DATA/BTC (Failed Breakout? Back to Key Support?)DATA/BTC
-failed to hold immediate support at 815s
-the price is will look down at next key support
-stong support is based before breakout at 670s
-if the DATA hits key areas, we could expect some bounce
-the market review is blow off the top on the 4H chart
DATA/BTC TA Update (Bullish Scenario?)DATA/BTC
This is a bullish scenario for DATA where we can see a potential ascending triangle pattern.
A flat line of resistance is respected between 505 - 460 sat area and a new higher low at 320 sat.
If DATA pulls back at 400 sats and confirmed another higher low.
The chances of performing this pattern are increased and the way we trade this type of setup
is to wait for the break of resistance and enter a Long position.
Bearish side, if the trend-line support is broken than the pattern is invalidated.
DATABTC formed bullish Gartley | Upto 24% expectedIt Moved Up More Than I Was Expecting:
I posted an idea on DATA with Bitcoin pair on 5 Oct 2019 here the price action was moving within a down channel and hitting the support of this channel the volume profile of complete channel was showing very low interest of traders at support and the price action found the support at 0.00000427
price action found the support at 0.00000098 within this channel the RSI was oversold and MACD turned strong bullish and Stochastic gave bull cross from oversold based on these indications I predicted that the price action will give upto 237% but when the price action took bullish divergence it was more powerful than I was expected and it produced 1025% very very huge gains below was the post:
Another Bullish Pattern On Short Term Chart:
Now this time the pricline of DATA has formed a bullish Gartley pattern on very small 2 hour time period based chart and this would be really good opportunity for DATABTC day or short term traders.
The pattern is driven as below:
After initial leg (X to A) the A to B leg is retraced between 0.618 to 0.786 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B leg's Fibonacci projection and final (C to D) leg is retraced between 0.618 to 0.786 Fibonacci as perfectly required for Gartley pattern and now the price action is moving in potential reversal zone of this Gartley pattern, now we can expect a bullish divergence from this level very soon.
The Buying And Sell Targets:
As per this harmonic Gartley pattern the buying and sell targets should be:
Buy between: 0.00000193 to 0.00000181 sats
Sell between: 0.00000203 to 0.00000226 sats
So this very short term trade has potential to produce upto 24% gains.
What Should Be Our Stop Loss:
The potential reversal zone area can be used as stop loss in case of complete candle stick closes below this level.
I will be keep posting more potential trading ideas for educational purpose on different assets as soon as will receive any trading signals.
DATABTC hitting the support | Upro 237% possibilityPriceline of DATAcoin / Bitcoin cryptocurrency is moving within a channel.
Previously in month of Mar 2019 the price action found the support at 0.00000427 sats and took bullish divergence and produced more than 93% profit.
This time again the price action has found another support and current support is at 0.00000098 sats and we are expecting next bullish divergence form here like it happened Mar 2019, insha Allah
This 0.00000098 sats support is our stop loss in case of complete candle stick closes below this support.
RSI was oversold and now moving up.
Stochastic has given bull cross from oversold zone.
Volume profile of complete channel is showing less interest of traders below the support.
I have defined targets using Fibonacci sequence:
Sell between: 0.00000211 to 0.00000331
Regards,
Atif Akbar (moon333)
DATA/BTC TA Update (Pullback is over?)DATA/BTC
DATA broke bullish after the price traded outside the downward resistance. We can say the deep pullback is already over and new Higher Low is now set.
A healthy pullback to retest the old resistance to turn into new support will give DATA more confidence that this breakout is not just a relief rally but a continuation of the longer uptrend.