ONE/BTC Buy & Hold Idea for May 12th, 2020
The halving hype has died down, Bitcoin dominance will slowly but surely decline, and on technicals I see the following:
> Broke out of a year-long downtrend
> Broke out of a month-long downtrend
> retested those lines okay
> Seems to be finding decent support around this area
> Large volume on the previous daily candles
> Attempting to get over the MA50
> Over the EMA20
There is a supply shock coming end of the month but I’m not factoring that into the chart. Just playing it as I see it right now.
Not financial advice! Just learning how to chart.
> Broke out of a year-long downtrend
> Broke out of a month-long downtrend
> retested those lines okay
> Seems to be finding decent support around this area
> Large volume on the previous daily candles
> Attempting to get over the MA50
> Over the EMA20
There is a supply shock coming end of the month but I’m not factoring that into the chart. Just playing it as I see it right now.
Not financial advice! Just learning how to chart.
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Going nicely.
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Still trying to get past 37 as resistance.
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Still trying.
Trade closed manually:
Took profit on this trade early. Coming up against resistance and BTC is looking shaky. 33% against BTC and 40% against USDT. Not bad.
Comment:
This kept running well. Impressive.