Trade Recommendation: NZDUSD

1 min


Our trade suggestion for CoinDash/Bitcoin(CDT/BTC) on March 23, 2018 struck its target on April 29 when the marketplace went as high as 0.0000086 In a little over a month, those who followed the suggestion grew their financial investments by near to 80%.

The next action after the marketplace struck the resistance was to await either a greater low setup or a plunge back to the 0.00004 assistance. While CDT/BTC went as low as 0.00000537 on May 12, bulls rapidly actioned in and raised the set back up to assistance of 0.000006 on May13 The healing of the assistance occurred with heavy volume. This informs us that individuals are purchasing the dips. That’s exactly what we’ll do too.

Technical analysis exposes that CoinDash/Bitcoin is producing a bullish greater low setup as it combines above 0.000006 The debt consolidation is occurring with reducing volume. This recommends that a lot of those who purchased the bottom are hanging on to their shares.

Likewise, the decreasing supply increases the possibility of a market rise and a break above 0.000008 This would set off the cup and deal with turnaround pattern on the day-to-day chart.

The method is to bottom fish the marketplace and purchase as near to 0.000006 as possible. As long as the marketplace remains above the assistance, bulls have all the momentum they have to get resistance of 0.000008 and relocate to our target of 0.000012

The procedure might take a month.

Daily Chart of CoinDash/Bitcoin on Binance

Since this writing, the CoinDash/Bitcoin set is trading at 0.00000604 on Binance

Summary of Technique

Purchase: As near to 0.000006 as possible.

Target: 0.000012

Stop: 0.00000579

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds financial investment positions in the coins, however does not participate in short-term or day-trading.

Included image thanks to Shutterstock.

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Nikolai

Nikolai is a Canadian writer currently living in Singapore. His started writing on Blockchian and bitcoin since 2017, he do Reviews and Analysis on Coins, ICOs. He holds a Master in Business Management and have keen interest in Computer Since, Blockchain and love to write on latest trends in Blockchain space.

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