Ethena | 240% - 407% (Focus On The Altcoins + Trading Tips)This is another pair that caught my attention; I thought I should look into it and sure enough, the chart looks great.
Ethena (ENABTC) went through a massive downtrend. This downtrend ended in a double-bottom pattern and now we have a volume breakout; the highest daily volume in thirty days.
This is a BTC pair (ENABTC) and Bitcoin pairs tend to become strongly bearish when Bitcoin moves up. The fact that Bitcoin is rising and this pair remains full-green, stable, is a great positive signal. We can expect growth and our targets here to be hit soon, similar to those that moved first, i.e., FIDA, RARE, SYS, DATA, VITE, VIDT, etc.
A tight stop-loss can be used if you are trading short-term. Since we are expecting fast bullish action, if it doesn't happen right away, within a few days; get out. If it starts moving up, focus on the target and use your preferred selling for profits strategy.
➢ Selling for profits
➖ Some people sell everything after a 20-30% rise.
➖ Some people sell 10-15% at each target.
➖ Some people sell 50% of their position when the pair grows 50%, and the rest when prices move higher.
➖ Some people wait for higher targets and sell everything there.
➖ Some people wait, wait, wait and never sell... That's a mistake.
It is always wise to sell.
You don't have to be 100% correct.
So, when in doubt, sell a small portion just in case.
Make a habit of withdrawing; taking profits. It is the only way to win.
Thank you for reading.
Namaste.
