✳️Utrust/USDT (10/11) View + Trading Plan #UTK $UTKUTK is still having trouble in closing a 1D candle above the 0.14$ zone, and after a sharp rise to the 0.16$ zone, it was strongly rejected, so the trend of UTK has turned to downtrend and the heading targets are 0.11$ zone and 0.09$ zone
Only when UTK closes a 1D candle above the 0.14$ zone, it will move up to the 0.17$ zone
📈BUY- LONG
-Buy: 0.105-0.11$, stoploss if B
-Buy: 0.09-0.095$, stoploss if B
📉SELL-SHORT
-Sell close to 0.135-0.14$, stoploss if A
-Sell: 0.105-0.11$ if B, stoploss if A
♻️BACK-UP
-Buy close to 0.135-0.14$ if A, stoploss if B
-Sell: 0.17-0.175$, stoploss if A
❓Details:
Condition A : "If 1D candle closes ABOVE this zone"
Condition B : "If 1D candle closes BELOW this zone"
UTKUSDT trade ideas
UTKi like UTK in this range, i think this is pretty undervalued right now compared to alts of similar valuation, have no idea where any alts are going to be long term but i think this is a good trade going into the next bull run, hard to pick a target but i think 20 cents within a few weeks can happen
UTK - partial buyPartial buy on the break of multiple resistance zones.
Historical Volatility showing signs of a new expansion phase.
Stop loss 0.158
Utrust vs USD - bearish engulfing candle3-day chart above prints a bearish engulfing candle right at the same price point as previous high. This candle comes at a time when RSI supporting trend line breaks down.
Can price action go higher? Sure... that is possible, however, it is more probable to go lower; especially as Stochastic RSI crosses below 20.
1st target $0.40
2nd target $0.25