$DOTECO/USDT 90m (Binance Futures) Descending channel breakout
Updated
DotEco (Polkadot Ecosystem) was launched 10 days ago, looking after that bullish break and retest.
Current Price= 1061.7
Buy Entry= 1054.8 - 1040.8
Take Profit= 1097.4 | 1143.0 | 1204.1
Stop Loss= 1251.68
Risk/Reward= 1:1.2 | 1:2.29 | 1:3.77
Expected Profit= +14.19% | +27.27% | +44.76%
Possible Loss= -11.88%
Fib. Retracement= 0.786 | 1 | 1.272
Margin Leverage= 3x
Estimated Gain-time= 120h
Current Price= 1061.7
Buy Entry= 1054.8 - 1040.8
Take Profit= 1097.4 | 1143.0 | 1204.1
Stop Loss= 1251.68
Risk/Reward= 1:1.2 | 1:2.29 | 1:3.77
Expected Profit= +14.19% | +27.27% | +44.76%
Possible Loss= -11.88%
Fib. Retracement= 0.786 | 1 | 1.272
Margin Leverage= 3x
Estimated Gain-time= 120h
Trade active
All entries filledDotEco dipped as expected, now time to be patient and wait for the possible bounce!
Note
More info about DotEco Composite Index:The underlying asset of the DOTECO Composite Index perpetual contract consists of a basket of Polkadot Ecosystem protocol tokens listed on Binance.
The index price is calculated using weighted averages of real-time prices of the tokens on Binance and is denominated in USDT.
As of today,
KSM (Kusama) is leading the pack with around 55% dominance, then comes REEF (ReefFinance) ~22.3%, 
AKRO (Akropolis) ~13.5% and DOCK (Dock) ~9.2%!binance.com/en/support/faq/619b8baa275a43f69a6c02eb16df07b3
You can see updated weights here on "Component Info" tab under the chart:
binance.com/en/futures/funding-history/3?contract=DOTECOUSDT
Trade closed: target reached
TP1 with +14.19% and 1.2RDotEco pumped as planned, taking some profit here and waiting for higher targets!
Trade closed: target reached
TP2 with +27.27% (3x) and 2.29RDotEco dipped back to entry and even lower but then bounced back before SL.
PC bot closed early but very nice profit manually and still one target to go!
Trade closed: target reached
TP3 with +44.76% (3x) and 3.77RSame for DotEco, all targets reached and even more, very nice profit!
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