Aloha, traders!
Welcome back to another trade analysis! If you’re feeling generous, drop us a like and stay updated on our Instagram @ej_wlk!
Now, let’s hop right into this trade.
I’m looking to buy into , as I see some strong action for the altcoin in the next couple weeks. After a surge 2 days ago, raising the currency by almost 12 points, we saw as bears attempted to push price back down, only to be greeted by the kicks of the bulls. This trend is largely in part due to and Litecoin’s recent profitability, but those points aside, we believe will rise.
The reasons for this are as follows.
1. In the short term, the chart for indicates more action coming up.
2. In the mid term, has formed a pattern, and these recent breakouts are simply part of its journey back up.
3. followed a until Tuesday, breaking out with solid , an indication of a strong formation.
We can always expect pullbacks or whale trades, but for the time being, I am going to long with 10X leverage on BitMEX. Happy trading!
Likes would be much appreciated!
Instagram: @ej_wlk
Published at Thu, 07 Mar 2019 07:23:48 +0000
