Here is another altcoin pair where we can see its price trading above all of the Moving Average lines (EMAs/MA). We just looked at this signal on the STORJBTC article (see Related trade ideas below). In a nutshell, we are bullish above these lines. We can see around 120% or even up to 250% in several weeks/months, this part varies wildly, the time period....
BINANCE:DATABTC A low risk high reward play here with DATA/BTC, we have a good support from the trendline combined with the moving average, risk/reward is around 4.8. Remember your risk management when trading crypto.
$data had a good run yesterday after 2nd test of fib .0236 turned into break of this level straigt to fib .382. It retraced and tested a support level of 357 two times, if it keeps above that it for 3rd time and move up it could mean another test of fib .382 and maybe even close above. Again depending on btc run and mainly btc.d (but if that bounces alts could...
Wave 5 seems finished, expect a correction to at least 388 sats.
Light green - 1hr Blue - 4 hr Purple - 1 wk Silver - 1 mth If it attacks and breaks the 1hr hold level, it can shoot up 34% What do you think?
Trade Proposal: There is a probability of first tp to the proposed ( 0.00000736 ) Direction line. So, Traders can set orders based on Price Action and expect to reach short-term goals. Technical analysis: DATABTC Waiting for the Range Bound and the beginning of the Ascension Trend.
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DATA/BTC LOOK LIKE BULLISH TP : GREEN LINE ON THE CHART FOR MID - LONG TERM
DATABTC - Long - Potential 10.05% Exchanges: Binance Signal Type: Regular (Long) Entry Zone: 0.00000295 - 0.00000307 Take-Profit Targets: 1) 0.00000319 2) 0.00000335 Stop Targets: 1) 0.00000278 Trailing Configuration: Entry: Percentage (0.0%)