Technical Analysis - Sentinel
SENT/BTC - 02/28/2020
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As shown above, we will be analyzing the technical status of SENT against Bitcoin.
Looking at SENT, the current price action does not differ much from the one in a range. A range at the relative “bottom” of an asset is mostly an accumulation period. In addition to this, we can slowly see indicators and volume inside the range to pick up and prepare for the next move.
As mentioned above, the current range is showing some decent signs of strength. Once of which many might forget to realize, would be the slow and steady, yet powerful grinds upwards towards the top of the range, indicating big orders slowly moving upwards to get filled, followed by quick and volume-less drops to the range lows again. The quantitative analysis pursuing the TJ-Index and the MKAST Algorithm is just as well showing signs of strength. The TJ-Index is rising and making higher lows while currently being at 6 out of 15 points. The MKAST Algorithm has alerted a buy-condition a few days back, which aligns perfectly with the bullish narrative and the upcoming re-test of the range lows. For an experienced trader, this pair is relatively easy to trade. The invalidation at the snapshot ATL is clear, just as well as the possible trades at the range lows. All in all, SENT does have great technical potential with a reasonably low Risk to Reward Ratio.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!