$MonetaryUnit has made Impulsive Move | Bullish Flag Needed for Next Move

in #bitcoin7 years ago

CryptoKraze Technical Analysis



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



Possibility on 1 hour Chart

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If you look at 1 Hour chart, you will see MonetaryUnit 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 0.00001750 with my profit target around 0.00002050 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

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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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helpful blog.thank you for sharing us possibility 1 hour Chart

Hola, como estas?... tienes mi voto de apoyo desde la comunidad #steemfamilyhi, puedes seguirme en @asarcos... También te invito a ver mi ultima publicación, https://steemit.com/spanish/@asarcos/hibiscus-mutabilis

Hello how are you? ... I have my vote of support from the community #steemfamilyhi, you can follow me in @asarcos ... I also invite you to my last publication, https://steemit.com/spanish/@asarcos/hibiscus-mutabilis

Thanks bro.. for sharing such a informatic information :)

hopefully this analysis is correct!
check my latest post on cryptcurrency: https://steemit.com/blockchain/@williamcrypt97/one-year-a-thousand-lessons

If it does a bull flag certainly will moon. However i don't thing flag is necessary here: quick correction and back to business is also likely.

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