FunFair (FUNBTC) on the weekly time frame:
- First let's start with the candlesticks. On the 10 Sept. week, marked purple, we have a hammer candle, followed by a high volume inverted hammer on the 1 Oct. week. These are both reversal signals when they show up at the bottom of a trend.
- You can see the red down trendline, which is no longer holding the price.
- The brown line is where FUNBTC found support, it coincides with late 2017 prices before the bull run.
- MACD bullish crossover with changing volume (red to green) and RSI is sitting on the lows, sellers are exhausted.
- Still trading below EMA10, FUN is getting ready to move in a matter of weeks or days.
- Let's get started with a profitable trade. This is a solid altcoin that has generated good profits for us in the past.
FunFair Trade Instructions
Buy in: 0.00000210 - 0.00000230
Targets by Alan Masters:
Stop loss: Close weekly candle below 0.00000183.
Capital allocation: <15%.
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