IM VERY NEW to trading but just wanted to show a pattern I noticed with this token. No one is really posting about this coin so I figured I'd give some insight. All I can say is this as a trading position is pretty bad, but as an investment if you're willing to put your money here and wait another few months (or until next bull market lol) its fine I guess. If it fails to break out of the downtrend soon we're probably heading back down to the bottom of the triangle. I'm just choosing to HODL to see what happens (recently opened a position). Overall if it fails to break resistance there are probably better projects to invest in that yield better gains, thats just the cold truth. However, I'm choosing to be bullish at the current price. I look at momentum shifts, not necessarily technicalities, and if theres any coin that is long overdue for a momentum shift its this one.
The facts are this coin has done absolutely nothing for this year aside from go down, a relief rally is long overdue. If it dumps below 8.00 I'd consider taking your losses and investing in a project that actually yields some type of gains. I'm not of the mindset of "be patient" because if you were "patient" at any point this year you'd be at a loss and still waiting. Not to say never be patient, but know when to cut your losses. Look for momentum shifts or reversals. If not, there are much better projects. Lets wait and see!
The facts are this coin has done absolutely nothing for this year aside from go down, a relief rally is long overdue. If it dumps below 8.00 I'd consider taking your losses and investing in a project that actually yields some type of gains. I'm not of the mindset of "be patient" because if you were "patient" at any point this year you'd be at a loss and still waiting. Not to say never be patient, but know when to cut your losses. Look for momentum shifts or reversals. If not, there are much better projects. Lets wait and see!