$GXS-BTC Technical Analysis | Getting ready nicely for 3rd Impulsive Move
CryptoKraze here
Possibility on 2 hour Chart
If you look at 2 hours chart, you will see $GXS has made a big impulsive move and then it has formed a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pulls back and wait for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has dipped to 50 level. Now, we are seeing 2nd impulsive move. So let this wave finish and then wait for 2nd bullish flag. We can ride 3rd impulsive wave that can be bigger than previous both waves.
- I will have a buy entry at 0.00005000 with my profit target will be around 0.00007500 or above.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
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.
@cryptokraze, Thanks for sharing, its always nice to find trading ideas on various Cryptos here on Steemit. It's better when someone adds trade suggestions with some technical analysis on the charts. Keep up the good work.
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Hello cryptokraze!
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Will be very interested to see how this works out. Might have one to many 0's on your entry and exit values for GXS-BTC.