$Aion-Btc is forming a symmetrical Triangle | Expecting a Breakout for scalp Trade

cryptokraze (72)in #bitcoin • 7 years ago

CryptoKraze here

In this post I am going to cover technical analysis of $Aion for short term trade. I am using tradingview charts and price linked to Binance exchange. Let's have a look on technical aspects of $Aion.

Possibility on 30 Minute Chart

If you look at 30 minutes chart, you will see $Aion has formed a symmetrical triangle and likely to breakout. This is very common pattern in crypto currencies, whenever a coin makes this symmetrical triangle, a breakout is imminent that is right in process. If we look at RSI, it has touched 70 level and has dipped below 50 level. It has to rise up to touch 70 level again.

I have a buy entry at 0.00004500 with my profit target will be around 0.00005500 or above.
Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

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Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.

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