Long
$SRM/BTC 12h (Binance Spot) Ascending channel on support
Updated
Serum is up-trending and forming a falling wedge, a break-out would be very bullish!
100EMA seems to be acting as support so let's place some bid down there and be patient enough.
Current Price= 0.00010374
Buy Entry= 0.00010110 - 0.00009536
Take Profit= 0.00012433 | 0.00014447 | 0.00018294
Stop Loss= 0.00008335
Risk/Reward= 1:1.75 | 1:3.11 | 1:5.69
Expected Profit= +26.57% | +47.07% | +86.24%
Possible Loss= -15.15%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 1 month
100EMA seems to be acting as support so let's place some bid down there and be patient enough.
Current Price= 0.00010374
Buy Entry= 0.00010110 - 0.00009536
Take Profit= 0.00012433 | 0.00014447 | 0.00018294
Stop Loss= 0.00008335
Risk/Reward= 1:1.75 | 1:3.11 | 1:5.69
Expected Profit= +26.57% | +47.07% | +86.24%
Possible Loss= -15.15%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 1 month
Trade active
Both entries filledSerum went down as expected and is now heading up again. 🤞🏼
Note
More information about Serum:It is a decentralized derivatives exchange project that enables cross-chain trading.
The project is a collaboration between FTX and Solana, you can read the research profile⬇️
research.binance.com/en/projects/serum
Trade closed: stop reached
SL with -17.76% (1x) and -1.25RSerum got rejected on wedge resistance and broke down the ascending channel after all..
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