Status Network Token has Broken out with Impulsive Move | Bullish Flag Pattern in process of Formation

in #bitcoin • 7 years ago

CryptoKraze Technical Analysis

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Hey folks, @cryptokraze here and I am going to cover technical analysis of $SNT for Short trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of $SNT.

Possibility on 1 hour Chart

snt1hr.png

If you look at 1 Hour chart, you will see SNT has made an impulsive move and now it is forming bullish flag. This is very common pattern in cryptocurrencies, whenever a coin breaks with big impulsive move, it pulls back and waits for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has to dip close to 50 level now, so we have a pull back done and next impulsive move is ready.

  • I would have a buy entry at 0.00001550 with my profit target around 0.00001850 or above.
  • Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

Have a look on my other Posts

Breaking Barriers with Steem Education Initiative

SEI Rewards System for Members | Post of the Day Promotion |

Averaging Technique in Crypto Trading

Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.

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7 years ago in #bitcoin by
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     7 years ago 

    Breakouts are good if you have the coin sitting about in an exchange ready to to take advantage of it.

    I have found by the time you get some currency there, you have missed the boat.

    Probably my inherent distrust of leaving cypro on exchanges.

    Thanks for the info though.

    [-]
     7 years ago 

    Thanks for sharing cryptocurrency update providing.
    I appreciate your post..
    This great technology..

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      [-]
       7 years ago 

      i want to join your @adsactly Discord Channel
      .thank you for sharing this

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         7 years ago 
        [-]
         7 years ago 

        if you dont mind,
        can I join you as well?

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          [-]
           7 years ago 

          Ofcorse it is free for everyone

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           7 years ago 

          thank you but being a Pakistani, I want to say that, I don't more about discord, can't you give me your facebook link because it will be better to stay in touch with you and please its a request don't react if you don't like my suggestion..

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            [-]
             7 years ago 

            I am active on steemit or discord. On FB you might not get response that you can get on discord

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             7 years ago 

            but I really don't know, how to use discord in proper way, just give me a little time on f.b please,,,

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