Bullish Flag in Formation on $Substratum | Good Entry for Scalp Trade

CryptoKraze Technical Analysis

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

Possibility on 1 Hour Chart

If you look at 1 hour chart, you will see Substratum 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 0.00004500 with my profit target around 0.00005500 or above.
Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

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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.

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tasauver (55) 8 years ago

Bullish move...Y aint it happening with Btc, made Markets bloody red since yesterday

$0.00

hendrawahyuni (51) 8 years ago

Thank you for the information about Bullish Flag in Formation on $ Substratum @cryptokraze

omarzavar (46) 8 years ago

Verry good post iI like it's

funworlding (64) 8 years ago

It really helps me to understand crypto world. Thanks for sharing. Hugs from Spain. Upvoted and followed happily.

cryptokind (26) 8 years ago

Thanks for the useful insights. Heading off to buy right away.

pendrive (31) 8 years ago

scalping is really dangerous those who can not maintain their money management system properly .as i am failure in Forex trading because of scalping and my quick money making psychology .