Looking at the 4h chart, there are no indicators for an immediate breakout, but the price is getting very close to the bottom trend line as well as the bottom part of the support zone. Considering the fundamentals of this coin and a number of master nodes that hasn't changed since the big pump I doubt the price will break the support zone and I decided to scale in with 5% of my overall portfolio and set my buy orders within the 50-55 range. If it doesn't touch my orders due to a sudden change, I will miss the opportunity - however, if the price goes below the support zone, I'll cut my losses. The target is to scale out at 70-75 range with a possibility of 25% returns. The approximate ratio is 1:2.5.
The reason I believe that my orders will be filled is that I find the current momentum being in favor of some other trending alts, therefore this coin might be slightly under the radar.
Happy trading! :)
The reason I believe that my orders will be filled is that I find the current momentum being in favor of some other trending alts, therefore this coin might be slightly under the radar.
Happy trading! :)
Komen:
I forgot to mention that the buy zone is in line with the bottom of the fib level if you looked at the all time levels.
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