Long
Rise of the Machines! SingularityNET (AGI) LONG
After several failed breakouts, SingularityNET is ready to deliver some nice returns.
50 Day Moving Average crossing both the 100 and 200 Day MA's shows bullish momentum
and typically precedes moves to the upside. Should the 100 cross the 200, this would
be an even larger bullish indicator. Often, however, the 100/200 cross is a lagging indicator.
I prefer an earlier entry despite the increased risk as long as the potential downside is acceptable and calculated.
The RSI is also showing strength. Typically, an RSI over 50 is viewed as bullish.
224 Sats, which previously acted as a local pivot, should provide some resistance before
we reach our first target of 243-250.
Targets 2 and 3 are both determined by previous resistance points between February and
March of 2020. These resistance points exist because they represent investors who
bought at local highs and seek to be made whole after experiencing depreciation
of capital. The larger the volume of the pivot, the harder the resistance will be to
overcome. In a bullish scenario, progressive attempts at resistance reduce the supply of sellers until
the price eventually breaks through.
These are short term targets. Once the price overcomes these targets, you can see there is
a slight bump at 383 Sats from August 2019. After this, however, observe how wide apart
significant resistance becomes. I believe this is just the beginning of a very profitable
journey.
Happy trading!
50 Day Moving Average crossing both the 100 and 200 Day MA's shows bullish momentum
and typically precedes moves to the upside. Should the 100 cross the 200, this would
be an even larger bullish indicator. Often, however, the 100/200 cross is a lagging indicator.
I prefer an earlier entry despite the increased risk as long as the potential downside is acceptable and calculated.
The RSI is also showing strength. Typically, an RSI over 50 is viewed as bullish.
224 Sats, which previously acted as a local pivot, should provide some resistance before
we reach our first target of 243-250.
Targets 2 and 3 are both determined by previous resistance points between February and
March of 2020. These resistance points exist because they represent investors who
bought at local highs and seek to be made whole after experiencing depreciation
of capital. The larger the volume of the pivot, the harder the resistance will be to
overcome. In a bullish scenario, progressive attempts at resistance reduce the supply of sellers until
the price eventually breaks through.
These are short term targets. Once the price overcomes these targets, you can see there is
a slight bump at 383 Sats from August 2019. After this, however, observe how wide apart
significant resistance becomes. I believe this is just the beginning of a very profitable
journey.
Happy trading!
Note
Forgot to add:Stoploss-130 Sats. This trade risks 20-80 Sats to the downside for a vastly greater upside of 80-1200 Sats in the mid term.
Note
Targets 1 and 2 hit. Trade still in motion.Note
Target 3 hit. May be wise to secure your initial investment (if you haven't already) and enjoy the rest of the ride stress-free.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.