Our Hot trade setups have generated nice returns during the recent market recovery.
BTC broke through $70K resistance and reached $74K resistance where it appears to have been rejected again. Let’s see if price stays above $70K, which would turn that key level from resistance to support (concept known as polarity).
BTC: Rejected at $74K Resistance
Meanwhile, we’re seeing several bullish breakouts among altcoins.
We placed RENDER on our Hot trade setup list after it broke through $1.50 resistance, where it got rejected previously a few times in the last 30 days. That signaled that demand from buyers had finally absorbed supply from sellers and price could advance again.
It’s up 22%. We also alerted our VIP members.
RENDER: Up 22% Since Break
As you can see, trade setups don’t have to be complicated.
Quite the opposite. Keep It Simple Stupid (KISS) is the winning approach.
Just keeping an eye on key levels (Support, Resistance), trend, momentum (RSI, MACD) and simple chart patterns.
Our Hot trade setups are those where we have a higher level of conviction.
Here’s another example of an interesting setup: SKY.
It’ls been in an Uptrend (per altFINS trend ratings - see others in Uptrend). Price broke out of a Sideways Channel, signaling resumption of Uptrend. It’s up 20% since then, surpassing our initial price target of $0.08.
This was an easy trade since the trend direction (uptrend) and trade direction (Buy) were in sync. This is classic trend trading.
SKY: Sideways Channel Breakout (+20%)
You can find trade setups on BTC and 50 major altcoins in the Technical Analysis section:
Trade Setups (50 altcoins)
TIP: Never miss another Hot trade setup and create an alert.
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