$CDT-BTC is Forming a Symmetrical Triangle, Likely to Breakout Soon

cryptokraze (72)in #bitcoin • 6 years ago

CryptoKraze here

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

Possibility on 1 hour Chart

If you look at 1 hour chart, you will see $CDT has formed ascending 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. So you can catch the current little dip as shown on chart and get a ride to this train

I have a buy entry at 0.00001100 with my profit target will be around 0.00001700 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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