SNT - The Status for Status is ClearHello everyone. In this 3 month long bear market, every single coin out there had retraced to 0.785 fib level which is considered to be a full correction and later bounced off. SNT is one of the few coins out there that haven't bounced off yet from the 0.786 fib level making it a great coin to get in as chasing pumps in a bear market is highly dangerous.
We also see that ABC corrective wave is almost complete, SNT bouncing off 0.786 fib level twice which shows a strong support there. We're currently awaiting for Wave 1 to begin which should be soon as SNT had tested 0.786 support multiple times and bounced off slightly above it.
Statusnetwork
Status Network Token (SNT) - Bottomed out + Confirmed BreakoutStatus Network Token (SNT), one of my first very strong public trades, shared on Trading View around the 15th December, has reached bottom and it is breaking out again today. Let's take a quick look at this coin for a quick and profitable trade.
Status Network Token (SNT) Trade Analysis by Alan Masters
*** CHARTS, SIGNALS & INDICATORS
Before we get started, let's take a nice quick look at the chart. I will show you the 4 hours chart and describe the rest below, here, for your learning and entertainment:
- The first thing that called me to track SNT was the bottoming out of the price on the charts. After that, I saw some great divergence on the MACD 4h chart as well as the RSI being oversold.
- The RSI being oversold is a very strong signal. This same signal is also available on the daily chart, which makes it even stronger.
- There is also a very strong breakout, which can be seen on the 4 hours chart and bullish sentiment on all the indicators.
- On the daily chart the indicators are trending up now with plenty of room for growth. What this means is that they are on the lower end of the chart, in the bearish zone, but they already reversed and are trending up, which allows for plenty of room for growth since they are looking and going up all the way from the bottom.
- These are just a few signals, but these are very strong signals, that's why we now move on to the trade instructions.
*** TRADE INSTRUCTIONS
Buy-in: 0.00001550 - 0.00001850
Targets:
(1) 0.00002055
(2) 0.00002204
(3) 0.00002405
(4) 0.00002965
Trade strategy: Aim for profits. A good 20% above your buy-in price is good to start securing profits. You can use the targets above as reference point, but the goal is to make 20-50% profits off this trade.
Stop loss: 0.00001299 (This is a very strong stop-loss. With the market acting stable lately, this isn't very likely to be needed).
*** MESSAGE OF THE DAY: Sun & Day
When the sky is blue, the sun is out to shine.
When the sky is gray, the sun is still working from behind.
When I see the blue sky, I get this good feeling of a higher self.
When the sky is gray, I continue being grateful and enjoy the shadow for the day.
Either you like the blue sky or you like gray, the detail is not important, what is important is what you feel.
You can give me rain, sun or fire, and I will be thankful for what it is.
So regardless of the Sun & Day, I just go out every single morning and be sure to Thank You... for Today!
Thank You Sun (My loved supporter), what a beautiful day...
Namaste.
SNT: looking at past patterns to set up a nice trade opportunityI personally see the project of Status Network Token as a prospective winner for this 2018 year given the quality of their team and their idea. The situation as of now with SNT is clearly bearish, but looking at how the price has acted in the past months, we can still keep an eye on this coin and set up a trade that for the mid term can be very profitable.
The analysis shows that SNT is moving in a descending channel, with the momentum still in the negative range. Looking back at the period before the last bullish wave, we can see some patterns that, if repeated, can give us some hints at where to place our entry and exit points.
Before the last bullish wave, we also had a longer than normal negative momentum period, but the ADX was slowly increasing and crossing to positive range before the price increased. At that moment SNT was also moving in a descending channel and below the EMA(50)
Option A: buy if we hit the bottom around 0.00001800-1900
Option B: buy if the descending channel is broken and if the price breaks the EMA(50) mark around 0.00002350
For both options, a good mid-term target for taking profits would be around 0.00003050.
Good luck!
