Crypto Trading Idea, Analysis & Setup: Long $DBC

Technical Chart Analysis :
DBC/BTC
Summary: DeepBrainChain (DBC) finally breaks out to the upside after hitting a low at 31 Sat on March 7. The first major resistance we can find on 50 Sat and in our opinion, the current level offers a decent upside potential.

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Trading Idea: Buy DBC @ 39 Satoschi with stop-loss below the support level of 31 Sat. This means a stop-loss of approximately 20% below the current entry level and with a first target of 50 Sat. We have a profit/risk-ratio of 1.4 to 1 which is for me a nice ratio to trade. We can find first minor resistance at 43 Sat and the second at 50 Sat.

Note: – Always DOYR (Do Your Own Research). This is not an explicit advice and just for educational reasons. You can read more about our Price Action Course here: https://cryptoacademy.nl/price-action-trading/
Chart Commentary Disclaimer: Our views on the Charts is not advice or a recommendation, it is educational and general information only