Bullish Flag Spotted on Nexus | Next Impulsive Move is about to breakout
CryptoKraze here
Possibility on 1 Hour Chart
If you look at 1 hour chart, you will see Nexus has made a big impulsive move and now it has formed a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pull backs 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, so we have pull back done and next impulsive move is ready. Let's have a look on Bollinger bands, you will notice the impulsive move took the price to top bands and flag has pulled price back to median line, so we have a possibility of next impulsive move soon.
- I have a buy entry at 0.00031500 with my profit target will be around 0.00045000 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.
Time to Double .. No Triple... No Quadruple your Crypto Earnings.
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Just my two STEEMS Worth.
