DOCK within an ascending triangle pattern.

2018년 11월 12일

DOCK/BTC appears to be within an ascending triangle pattern. So far, we've made 3 sets of higher lows with the peak of the ascending triangle around 430. There is an argument if you used wicks for the top of the ascending triangle that 440 (.5 fib level) would be the top. Either way, DOCK is looking pretty good if it can hold this pattern. I'm watching the .5 fib level around 440 and the .618 fib level around 490-500 as possible targets. RSI is in a rising channel as well. The MACD on the 4-hour does look like it might have a bearish cross-over, so watch the bottom of the ascending triangle around 400, as for we might see another retest of it again. I'm keeping an eye on the moving averages (10 MA in orange, 20 MA in light-blue, 50 MA in green, 100 MA in yellow, and 200 MA in red) and watching for any potential cross-overs should the price rebound from the bottom of the ascending triangle. If price breaks down, we have tight stops in place to minimize losses. R/R (Risk/Reward) is pretty good on this trade.

Entry: 398-408

Target 1: 428 (Possible top of the ascending triangle.)
Target 2: 440 (Also a possible top of the ascending triangle, and this is the .5 fib level.)
Target 3: 490 (.618 fib level.)

Stop-loss:
390-395 (Below the ascending triangle.)
370-375 (Below the 200 MA on the 4-hour and below the .382 fib level.)

--This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility.

2018년 11월 12일

노트

Moved stop down a bit to 380-385. Hard to know exactly where it'll hit the bottom at.