Cardano / Binance Coin: Bullish Flag Pattern Formation
Balance Of Power Between Bulls and Bears:
Price is currently forming a bullish chart pattern and bears seems to be running out of steam,
MACD histogram is currently below the center line and ticking up - this signifies that bears are running out of power.
Entry Game plan:
We can wait for price to break above 0.0050 SAT and carefully observe the strength of the bulls around that price before we place a limit buy order at 0.0052 SAT.
Exit Game plan:
Depending on our risk appetite, we can place a stop-loss within the flag at 0.0040 or 0.0035.
Expectancy:
Potential profit from TP1 is 27%; second profit target TP2 from the entry point is 76%
Risk/Reward Ratio: 2.64
Price is currently forming a bullish chart pattern and bears seems to be running out of steam,
MACD histogram is currently below the center line and ticking up - this signifies that bears are running out of power.
Entry Game plan:
We can wait for price to break above 0.0050 SAT and carefully observe the strength of the bulls around that price before we place a limit buy order at 0.0052 SAT.
Exit Game plan:
Depending on our risk appetite, we can place a stop-loss within the flag at 0.0040 or 0.0035.
Expectancy:
Potential profit from TP1 is 27%; second profit target TP2 from the entry point is 76%
Risk/Reward Ratio: 2.64