Data reached a good buyzone in accumulation
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Hello there, this is our view on DATABTC, enjoy!
Analysis:
-On chart:
Volume breakout of a small bear flag, near the top of a falling wedge and facing the potential breakout of a major downtrend. Good accumulation after dump and pump; also moving inside bullish disjoint angle (you could count waves by yourself). SMAs formed multiple golden crosses on short lengths, while 50-200 is still bearish; same for EMAs, but 50-200, which are forming a golden cross. Price now retesting weighted moving average 200, it may be a trial for a bull run (on h4, just a simple daily pump for most of us). Recently attempted to run above upper band, but it was rejected, now reaccumulating in the range mid-up, this will be obviously bullish unless we see breakdown of the middle band (this is the scenario we're hoping for as we could buy the cheap dip). Ichimoku is extremely bullish too, we're running far above the cloud which has just turned bullish, so we might see a retracing soon according to bollinger bands and wma 200 previous forecast.
-Technicals:
Some oscillators are slightly bullish: money flow, rsi and ultimate formed bull divergences from oversold, while chaikin and stoch (14,3,3) formed bear divergences and now are looking for the support trendline from oversold. Macd a little bearish, while awesome states no momentum at all; macd also just about to form a death cross, in that case we'll buy below current support (165).
-Nb:
Volumes coming in!
Strategy:
If 1. drops below stoploss, then try 2.; target is the same
1.Entry (long): 165 - 161 - 153
Target (short-term): 170 - 179 - 200+
Hodl: 213 - 239 - 300+
Stoploss: below 151
Risk/reward: ~4.00
2.Entry (long): 145 - 140 - 126
No stoploss for the dip
Warning: very volatile. We suggest you should adopt a thorough money management for this kind of trade!
Trade safe, Anlvis.
Analysis:
-On chart:
Volume breakout of a small bear flag, near the top of a falling wedge and facing the potential breakout of a major downtrend. Good accumulation after dump and pump; also moving inside bullish disjoint angle (you could count waves by yourself). SMAs formed multiple golden crosses on short lengths, while 50-200 is still bearish; same for EMAs, but 50-200, which are forming a golden cross. Price now retesting weighted moving average 200, it may be a trial for a bull run (on h4, just a simple daily pump for most of us). Recently attempted to run above upper band, but it was rejected, now reaccumulating in the range mid-up, this will be obviously bullish unless we see breakdown of the middle band (this is the scenario we're hoping for as we could buy the cheap dip). Ichimoku is extremely bullish too, we're running far above the cloud which has just turned bullish, so we might see a retracing soon according to bollinger bands and wma 200 previous forecast.
-Technicals:
Some oscillators are slightly bullish: money flow, rsi and ultimate formed bull divergences from oversold, while chaikin and stoch (14,3,3) formed bear divergences and now are looking for the support trendline from oversold. Macd a little bearish, while awesome states no momentum at all; macd also just about to form a death cross, in that case we'll buy below current support (165).
-Nb:
Volumes coming in!
Strategy:
If 1. drops below stoploss, then try 2.; target is the same
1.Entry (long): 165 - 161 - 153
Target (short-term): 170 - 179 - 200+
Hodl: 213 - 239 - 300+
Stoploss: below 151
Risk/reward: ~4.00
2.Entry (long): 145 - 140 - 126
No stoploss for the dip
Warning: very volatile. We suggest you should adopt a thorough money management for this kind of trade!
Trade safe, Anlvis.
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