Even being in a macro uptrend and holding at around .45 akro is forming a descending triangle, but BTC.D is going down and that market feeling can help AKRO break it.
Trade Idea: Buy on triangle breakout, target is the upper trendline around 0.9
Other take-profit areas: 0.58-0.6 / 0.7-0.71 / 0.78
SL: 0.4399
- Started correction after reaching ATH at 585
- 0.5 (~440) proved to be a nice support in this descending channel (Great buy zone)
- Need a nice impulse candle to break that downtrend line
Actions:
- Breaking down 436, short
- Breakout trendline (impulse over 500), target 585
Not a trading advice, do your own research
Reef in this moment is on a bear trend and failed to break it again because of bitcoin...
It's probably going to test the macro uptrend, whos also within an buying zone/support (around 0.3)... Check for buying opportunities there.
Watch out for bitcoin, because if it breaks down, will drag reef down, and then we'll go down around 0.195-0.2
Not a trading advice,...