Bitcoin Diamond has broken out | Bullish Flag Pattern is Forming Nicely

cryptokraze (72)in #bitcoin • 7 years ago

CryptoKraze Technical Analysis

Hey folks, @cryptokraze here and I am going to cover technical analysis of $Bitcoin Diamond for Short trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of $Bitcoin Diamond.

Possibility on 1 hour Chart

If you look at 30 minutes chart, you will see Bitcoin Diamond has made an impulsive move and now it is forming bullish flag. This is very common pattern in cryptocurrencies, whenever a coin breaks with big impulsive move, it pulls back and waits 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 to dip close to 50 level now, so we have a pull back done and next impulsive move is ready.

I would have a buy entry at 0.0040000 with my profit target around 0.00560000 or above.
Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

Have a look on my other Posts

Breaking Barriers with Steem Education Initiative

SEI Rewards System for Members | Post of the Day Promotion |

Averaging Technique in Crypto Trading

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.

Steem Education Initiative is empowering local students of Pakistant through Steem blockchain to give them a chance for better life.
You are welcome to join SEI Discord Channel and visit official steemit account @steemeducate

Join SEI at Discord

The @adsactly Society is junction for all those having some skills & free thinking and want to cooperate. It is a way to create better environment at steemit.
You are welcome to join @adsactly Discord Channel

Follow ADSactly at Discord

#crypto #adsactly #blockchain #technology

7 years ago in #bitcoin by cryptokraze (72)

Sort:

artakan (55) 7 years ago

I approve :)

$0.37

1 vote

[-]

shahabshah (52) 7 years ago (edited)

Hi,@cryptokraze i hope to you all and iam very happy to share a webgl contest so iam appreciate to you.but you are my bro and iam resteam your posts so you upvote and resteam my oposts and my pakistani community in here @shahabshah @cryptospecio. but you replay me iam thankfull toyou ok but happy.
https://steemit.com/celestialchallenge/@shahabshah/tuesday-animal-kingdom-dailycelestialchallenge

$0.00

1 vote

[-]

hendraman (45) 7 years ago

Good post

$0.00

[-]

ady25 (36) 7 years ago

Nice post bro

$0.00

[-]

gimba (52) 7 years ago

Thanks for such I was even planning on selling my father's land to invest on steem

$0.00

[-]

cbeep (44) 7 years ago

Great technical analysis .good to have you here. 😇

$0.00

[-]

shahaan (52) 7 years ago (edited)

I didn't understand bitcoin until just recently but now I feel that for bitcoin holders they are a tremendous side benefit, like stock dividends only better. I'm convinced the public only really cares about bitcoin so it will remain top dog for many years. I don't know which is wiser though - to separate the forked coins from your bitcoin then sell the forked coin ASAP, or to just wait a while and watch what happens

$0.00

[-]

arunchaubey21 (47) 7 years ago

Loved your study and i agree with your analysis. We can enter and some profit now out of it.

$0.00

[-]

resteemator (3) 7 years ago

@resteemator is a new bot casting votes for its followers. Follow @resteemator and vote this comment to increase your chance to be voted in the future!

$0.00