RAMP/USDT - short term cup & handle on new Binance listing
RAMP/USDT got listed on Binance three days ago and on the 15m the chart probably couldn't look more like a cup & handle than it currently does.
The handle reversed right at the 0.786 fib-level and so far looks like a clean falling wedge, that pattern combined with a fairly low marketcap (at least under current market conditions) of 150 million and a thin order book makes me very bullish on it in the short / medium term as I think it is in the early stages of a bigger pump.
This is obviously a risky play as new listings are always hard to get right because the market has to adjust but in my opinion the potential payoff is worth it.
Recommended buy zone and stop loss are shown in the chart but make sure to adjust your stop according to your risk tolerance and keep the position size small for now until you see proper volume coming in.
Keep in mind that this is a short term setup which means it can get invalidated very quickly so tread with care and keep an eye on it.
Good luck and let me know what you think!
The handle reversed right at the 0.786 fib-level and so far looks like a clean falling wedge, that pattern combined with a fairly low marketcap (at least under current market conditions) of 150 million and a thin order book makes me very bullish on it in the short / medium term as I think it is in the early stages of a bigger pump.
This is obviously a risky play as new listings are always hard to get right because the market has to adjust but in my opinion the potential payoff is worth it.
Recommended buy zone and stop loss are shown in the chart but make sure to adjust your stop according to your risk tolerance and keep the position size small for now until you see proper volume coming in.
Keep in mind that this is a short term setup which means it can get invalidated very quickly so tread with care and keep an eye on it.
Good luck and let me know what you think!
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