MKR/USDT - 6/13 Technical Analysis.

13 ביוני 2020

On a 1D TF, MKR/USDT is in a Descending triangle, broke up with huge volume. (Note: Typical a descending triangle is a bearish pattern). Due to CBPRO listing, MKR broke out of the descending triangle pattern couple of days back and now it retested the 0.618 FB which is 511$ will definitely act as a strong support. One should consider entering this as an accumulation phase with couple of days patiently to play this out. Risk reward of this trade is looking good.

My TP1 : 718$, TP2:1052$, TP3: 1595$
SL : 511$