Cup and Handle Forming on Status Network Token by cryptokraze

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bitcoin · @cryptokraze · Jan 1 '18

$9.84

Cup and Handle Forming on Status Network Token

## <center> CryptoKraze here</center>
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<center> In this post I am going to cover technical analysis of **Status Network Token** for Mid term trade. I am using tradingview charts and price linked to Bittrex exchange. Let' have a look on technical aspects of **Status Network Token**.</center>
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### Possibility on Daily Chart

<center>![SNT1day.png](https://steemitimages.com/DQmYCQNMRXaNGD6KcaNNiKM2BNsAaX7rhjGy4vEZAEj1zxE/SNT1day.png)</center>

If you look at daily chart, you will see **SNT** has formed perfect cup and now we need little pull back to form a handle. This is very common pattern in crypto currencies, whenever a coin makes this cup and handle pattern, a strong breakout is expected. If we look at RSI, it has gone above 70 level and it has to retrace now around 50 level before next move. Let's have a look on Bollinger bands, you will notice that last impulsive move took the price to top bands and now it has to pull back to median line, so we have a possibility of next impulsive move after handle formation on the cup.

* I have a buy entry at 0.00001500 with my profit target will be around 0.00002750 or above.
* Stop loss just below the entry area is must for trading if you don't know the [**Averaging Technique in Crypto Trading**](https://steemit.com/cryptocurrency/@cryptokraze/averaging-technique-in-crypto-trading-or-to-maximize-profits-and-cut-losses).

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<center> **Have a look on my other Posts** </center>
<center>**[Bitcoin Correction Almost Done - Get Ready for Boom](https://steemit.com/bitcoin/@cryptokraze/bitcoin-correction-almost-done-or-get-ready-for-another-boom)**</center>
<center>**[Averaging Technique in Crypto Trading](https://steemit.com/cryptocurrency/@cryptokraze/averaging-technique-in-crypto-trading-or-to-maximize-profits-and-cut-losses)**</center>

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<center>**If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis**</center>
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<center>_**Disclaimer**_
_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._</center>
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bloorinvestor	169,916,872	100%
atmosblack	113,826,050	0.7%
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lazurit	442,699,200	100%

@farmingbot · Jan 1 '18

 Sebenarnya harga bitcoin sudah gila sekarang, jika saya menyimpan bitcoin di dompet saya terlebih dahulu, mungkin tiba-tiba kaya

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@minnowsupport · Jan 1 '18

<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by cryptokraze from the Minnow Support Project.  It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso.  The goal is to help Steemit grow by supporting Minnows and creating a social network.  Please find us in the <a href="https://discord.gg/HYj4yvw">Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p>

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@upme · Jan 3 '18

re-cryptokraze-cup-and-handle-forming-on-status-network-token-20180103t145718301z

You got a 0.45% upvote from @upme requested by: @cryptokraze. <br> Send at least 1.5 SBD to @upme with a post link in the memo field to receive upvote next round. <br> To support our activity, please vote for my master @suggeelson, as a [STEEM Witness](https://steemit.com/~witnesses)

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