NANO/BTC 8H (Binance) Triangle pullback & falling wedge breakout
Nano (ex Raiblocks) is preparing for uptrend again, the big triangle resistance is acting as support now.
This coin is way oversold in my opinion and is also a good bye for long-term, but here goes the midterm set-up:
Entry= 0.0000859 - 0.0000829
Take Profit= 0.0000963 | 0.0001050 | 0.0001111
Stop Loss= 0.0000725
Risk/Reward Ratio= 1:1 | 1:1.73 | 1:2.24
Expected Profit= 14.10% | 24.41% | 31.64%
Possible Loss= -14.10%
Fib. Retracement= 0.382 | 0.618 | 0.786
This coin is way oversold in my opinion and is also a good bye for long-term, but here goes the midterm set-up:
Entry= 0.0000859 - 0.0000829
Take Profit= 0.0000963 | 0.0001050 | 0.0001111
Stop Loss= 0.0000725
Risk/Reward Ratio= 1:1 | 1:1.73 | 1:2.24
Expected Profit= 14.10% | 24.41% | 31.64%
Possible Loss= -14.10%
Fib. Retracement= 0.382 | 0.618 | 0.786
Trade active:
Breakout was confirmed 4 days ago, I hope you entered, now waiting for TP1.
Comment:
Went for best entry at 0.0000829 and bounced again on triangle S/R. It's almost a double bottom also, targets are still valid!
Trade closed: stop reached:
SL hit at -14.10%
Comment:
Targets were reached after all, we can see that support have been respected very well!
Now if we zoom out we can see that the accumulation channel just broke, it could grow way higher in my opinion:
Now if we zoom out we can see that the accumulation channel just broke, it could grow way higher in my opinion:
