Breakout Stake has formed bullish flag and ready for next Impulsive Move

CryptoKraze here

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In this post I am going to cover technical analysis of Breakout Stake for Mid term trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of Breakout Stake.

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Possibility on 1 Hour Chart

If you look at 1 hour chart, you will see Breakout Stake has made a big impulsive move and now it has formed a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pull backs and wait 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 dipped to 50 level now, so we have pull back done and next impulsive move is ready. Let's have a look on Bollinger bands, you will notice the impulsive move took the price to top bands and flag has pulled price back to median line, so we have a possibility of next impulsive move soon.

• I have a buy entry at 0.00013120 with my profit target will be around 0.00019000 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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Have a look on my other Posts
Bitcoin Technical Insight by Crypto Kraze | We have started Journey to $24,000
Averaging Technique in Crypto Trading
Steem in Process to Form A Cup & Handle Pattern on Major Resistance Level
TenxPay Technical Analysis | Symmetrical Triangle about to breakout

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If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis

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Disclaimer
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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