Chart analysis for ORDI/USDT.

ayrinbd (79)in Steem Alliance • last year

Hello friends, how are you all? Hope you guys doing well. Today I'll share my ORDI/USDT trading strategy. I hope you will enjoy it. So let's begin.

Most of the time when I try to take trades I look for a volatile market. Because it gives more profit than any other coins.

Although It has high risk too but I'm always ready to take this loss. Actually, Trading is a psychology game, you always have to calculate the risk when you are going to dive into a trade.

In the crypto heatmap, I saw ORDI made above -2%. On the previous day, It made around +3%. So, I looked for a trade in ORDI. Let's explain the trade.

Screenshot from trading view .

In early January ORDI made its all-time high which is 92$. Then it dumped around 80%. 92$ to 50$ which is such a big difference. However, I saw In the daily chart that volume is going lower day by day.

Also, ORDI is at a resistance level. On FEB 12- FEB 19, I noticed that ORDI was trying to break that resistance but It couldn't break it.

Screenshot from trading view 4h time frame

ORDI made too many rejections on the resistance zone. That is a good sign for giving a dump. Also as it holding the position this might be a sign for a dump as well.

Let's use some indicators now. The price is trying to get below the 50MA. That's a good strategy to take a trade I think so.

Many trades just trade based on indicators. Don't they make profit? Of course, they make profit. It just We have to learn everything deeply.

Screenshot from trading view 1D time frame

The volume is dropping as well. It's a downtrend on the volume chart. Combining all the indicators and price action I think It will dump. And I think it gonna be a good opportunity to take the trade on ORDI/USDT.

Screenshot from trading view 1D time frame

MY PREDICTION

I think 64 to 69$ is a good price for taking a short position. My stop-loss will be above 76$ and the Target price on 49$ to 50$.

Although, if the market goes lower to 49$. Then I will extend my take profit target. And the target will be 30$. But I don't think It will break the 50$ zone. But If it breaks then I will hold my position.

Screenshot from trading view 1D time frame

In my previous post, I did analyze for ADA/USDT. Ada is now consolidating at the resistance level. Hopefully after the ending of consolidation, it will go in my favor.

I'm not a professional trader. If you want to trade on the markets then do your own research and try to know the market structure. Crypto is such a risky investment, it even turns into more risk when we talk about futures. That was for today. Hope you found something valuable here. Thank you.