CHATBTC: 100% upside move in the coming weeks?

Aug 23, 2019

Hello Dear traders.

CHATBTC is showing some sign of life and strength on the daily timeframe. Considering the downtrend this coin has been through, this zone offers a very strong Risk Reward ratio.

You can see:
- it just reclaimed a support and it's holding the btc impulse really well.
- The green scribble can be analyzed as a spring under support. A “spring” takes price below the last obvious low, right under support, and then reverses to close above the support. This action allows large traders to mislead the public about the future trend direction and to acquire additional coins at bargain prices. Also guys, not sure it's one, but be aware that a terminal shakeout at the end of an accumulation is like a spring on steroids. This coin is showing some volume, meaning that buyers stepped in, adding some confluence.
- Targets would be :

• 1. We already hit the blue line corresponding to the first weekly target.
  
• 2. Right above, you can see a white line at 56 sats. That's a daily resistance.
  
• 3. These two targets can hold price for a while, squeezing price within a trading range, but stay aware that any breakouts can very fast reach the white and blue zone, at 70 and 80 sats.
  

We first shared this setup yesterday at 42 sats to our twitter followers for free, and it's already up more than 15%, close to 20%. Stop is now at breakeven, and we have the confort to only manage this position, optimizing our profits.

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Happy trading.