CryptoKraze here
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In this post I am going to cover technical analysis of MonaCoin on request of @abhicrypto. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of MonaCoin.
Chart on Daily Time Frame
At first glance you will identify this famous pattern used in crypto world. Yes, this is a perfect cup and handle formed and there is high possibility that price will make another high. Price is well below the 70 level of RSI so there is very less chance for a drop. Bollinger band are way too far for a sell zone so we are gonna see some upward thrust. I have marked 3 areas for profit taking so that short term and long term traders can set their sell targets.
- I am already in from 0.0007 levels but you can take entry around 0.0085.
- 1st Profit Target is around 0.00102 and 3rd profit target is around 0.00145
- Set your Stop Losses just below 0.0007 as these are must for trading if you don't know the averaging technique.
![mona1d.png](https://steemitimages.com/640x0/https://steemitimages.com/DQmd9Dv9f8j2Eay2nDoP57rjKSSBsYmWM5U1EiRgfJQjwkM/mona1d.png)
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 pump or dump will make this analysis void.
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nice call my friend
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I hope this will yield some good profits.
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good content bro
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Thank you for your analysis .
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Thanks for sharing this valuable information @cryptokraze. I'm still new here so I'm trying to get my head around it. I see you have a lot of posts, I'm planning to go through them and use your blog to increase my knowledge.
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You will get things in few days and will love it
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