Hey guys, MM here with a quick analysis on SUBBTC.
Substratum (SUB) has been held from pumping like most alts by this huge resistance around 1870, but now after 4 touches on this resistance it’s time to break it, with various indicators showing bullishness, such as the ichimoku on the 12h, and being above MA7, 25, and 50, I believe we are due for a nice pump. I have highlighted an area where we can place our buy orders, a retest of the MA7(yellow line) would probably be the perfect buy in my opinion. The stop would be below the last wick and the MA50 on the 12h chart.
Buy : 0.00001783 – 0.00001853
Target 1: 0.00002067
Target 2: 0.00002104
Target 3: 0.00002356
Hey guys, MM here with another analysis.
This time i’m looking at Substratum (SUBBTC) on Binance, a coin that seems to have bottomed out after hitting 2017 support levels with volume drying up, now it’s looking like it might be ready for a small reversal if Bitcoin allows it, as with news about an ETF decision coming very soon trading alts is something really risky, as they can just continue to make new bottoms if the news are bad, that is why we usually use tight stop losses, and small position sizes, that don’t make a huge wound in our capital if something were to go the wrong way, instead it’s just a little scratch that we can simply wipe off.
The reason why i’m looking at SUBBTC is because of how close we are to our local support which allows us to place a close stop loss, and we just made a TK cross on the 6h chart, while finding support on the kijun and the bottom of the cloud.
Recommended buy range: 0.00001915 – 1970
Target: Next resistance levels, 0.00002150, 0.00002400
Stop loss: 0.00001850