Long Hold or Short Term Trade? This one is both!

BITTREX:SALTBTC   Salt / Bitcoin
A coin that I've been watching a lot lately is Salt. They are a platform that will give out crypto currency backed loans. I like this idea because hodling in the crypto world is a core philosophy, but people are still going to want to leverage their assets for quick cash. This gives Salt good fundamental value which is big plus for me. The platform launched Dec 26th i believe so this is likely the shakeout for FOMO buyers when it dropped.

Technicals: We have a clear bottom & accumulation range that has been clearly broken out of. Now price has given us a beautiful retracement to the beginning of the breakout. This retest is often good enough on it's own because whales will defend the price at which they accumulated their coins. However, we also have growing volume which means the market for Salt is expanding. Lastly, the momentum on the recent move down seems to be running out. Price can bounce up from here, or it can continue down to the edge of the accumulation range. Trade it how you please, if you hold I guarantee money will be made on this coin.

Targets: Targets are difficult to say because there is no structure to the left to determine pivots , so, fibs are used. Fibs are a pretty rough target measuring system so take those levels with a grain of salt. This is a great pullback to jump onto for a coin that has shown some great strength and has favorable fundamentals in its corner
Good luck! This is an easy one!

Kommentar: Price has broken out! Buy if ya haven’t already.
Flag breaking up
Great analysis Mr. WhaleWatchersTrading! Just got in SALT and looking to make big gains. Would love to grab some drinks and meet you sometime while discussing cryptos
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