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Status Network Token (SNT) Chart Analysis (Trending Downward)

BITTREX:SNTBTC   Status Network Token / Bitcoin
Status Network Token ( SNT             ) Analysis

- This coin is trending downward. The price reached a top on the perfect 9 count on the TD             Sequential indicator.

- You can see a triangle formation on the chart, which means that consolidation is happening and a breakout will happen soon after but, if you look at the indicators they are all overloaded or trending down.

- This daily chart is telling me that SNT             might need a break. If the support line is broken downward, it will might go down hard.

- If it breaks up, it has to challenge the recent high and these are very hard to break looking at the indicators on the chart.

- I would sell my SNT             in peace and be looking for a new entry point after the support levels are re-tested. This is if you want to continue trading this coin.

- If you are thinking long term in the range of many months then holding is really easy, as price swings are not important in a long hold.

Notes:

- Magenta line show resistance levels.
- Black lines show support.

Hope you enjoyed this analysis.
These are short term signals. This analysis won't be valid a few days or weeks from now, as the charts will always be changing. Since this is mainly a daily chart signals analysis, the signals are updated every day when a new candle is formed.

Please keep this in mind.
http://Alanmaster.com - Private &VIP - Cryptocurrency trading learning platform, for advanced and beginners alike.

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Mantra: Om Stanesha Vahtu Nevehem
Thanks for help
Balas
update please!
Balas
It looks like every coin is forming a triangle and consolidating now. We may need a week or two of this to go substantially higher.
Balas
Wow, Alan. Thanks for warning us. It's looking just like NEO did this morning for a couple hours.
+1 Balas
Thanks Alan, good stuff
Balas
@alanmasters Please can you please analyse Ada. It is about to change trend.
Balas
Binance Invite: https://www.binance.com/?ref=11533825
Balas
@alanmasters Can you please analyse LTC/USD ? It is about to change the trend I think, but I dont know to up or down...
Balas
@alanmasters How much % of the bankroll do u recommend for your trades ?
Balas
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