LOOM/BTC Local Bottom at Key Support? (+95% Potential Profits)
Hello Traders,
As we can see here on the daily time frame for Loom Network (LOOM) on Binance, there may be a potential breakout from the falling wedge being printed since the peak of the last bullish wave. As we can see, LOOM peaked around 450 satoshi on its last rally. After a massive correction, prices are now trading around 200 satoshi.
We can see prices trading near support (blue boxes) and breaking above the 10 and 21 EMAs, indicating a potential reversal into an uptrend. Prices can easily move up to the 50, 100 and 200 EMAs next.The MACD also gave off a bullish cross a few days ago, and the RSI is now above 50 while increasing steadily, both bullish signals. We also have some large buy volume on the most recent green candles, adding to the bullish sentiment. Keep your eye on this coin because if it can rally again, there will be massive growth.
A potential short-to-mid term trade setup now could be:
Entry: 200-220
Support: 160-180
Take Profits:
1 - 244 (+15%)
2 - 287 (+36%)
3 - 319 (+51%)
4 - 412 (+95%)
Share your own thoughts and comments down below. Also, leave a like if you liked the post and follow me for more ideas!
Price at writing: 208 satoshi.
As we can see here on the daily time frame for Loom Network (LOOM) on Binance, there may be a potential breakout from the falling wedge being printed since the peak of the last bullish wave. As we can see, LOOM peaked around 450 satoshi on its last rally. After a massive correction, prices are now trading around 200 satoshi.
We can see prices trading near support (blue boxes) and breaking above the 10 and 21 EMAs, indicating a potential reversal into an uptrend. Prices can easily move up to the 50, 100 and 200 EMAs next.The MACD also gave off a bullish cross a few days ago, and the RSI is now above 50 while increasing steadily, both bullish signals. We also have some large buy volume on the most recent green candles, adding to the bullish sentiment. Keep your eye on this coin because if it can rally again, there will be massive growth.
A potential short-to-mid term trade setup now could be:
Entry: 200-220
Support: 160-180
Take Profits:
1 - 244 (+15%)
2 - 287 (+36%)
3 - 319 (+51%)
4 - 412 (+95%)
Share your own thoughts and comments down below. Also, leave a like if you liked the post and follow me for more ideas!
Price at writing: 208 satoshi.
