KMD / BTC Channel 111%. Reversal zones. Work on a coin.After the price exited a descending wedge, a horizontal accumulation channel formed. External channel width 111%. Domestic about 50%. Liquidity is average.
The channel and pivot zones are shown on the chart. Price fixing above the channel resistance level (yellow zone) may serve as confirmation of further growth. Not overcoming this zone can serve as a price reduction to the indicated important channel support zone. Further, how the price will react to this support zone.
Now is not a good entry point, as there is uncertainty in the further price movement. Tool for observation.
Good potential entry points:
1) When fixing the price above the resistance of the current channel (yellow zone).
2) Entrance from the bottom of the active channel upon confirmation of support.
Stop loss
Set Stop Loss value with calculation of your trading strategy and money management. Stop Loss percentage should be adequate. What matters is not the Stop Loss value itself, but the entry point and your system of work.
The first potential target showed on the chart.
1) From channel resistance in case of consolidation + 60% and if the uptrend will develop even higher.
2) From the bottom of the channel about + 111%.
The previous trading idea for this coin gave + 55% from the moment of breaking the resistance of the downward wedge.
