cryptodads

NAK

Up 65% in the last two trading days is a huge W.  Based on the technicals, this is a good place to take profits to see what happens next.  My first chart is the weekly.  Taking a trend line from the previous two tops shows price is right into this level.  $1.20 zone has been a big area of resistance before, which has been broken at this point.

Daily and Weekly RSI are both getting well into the overbought zone.

Taking profits here will allow you some flexibility on the trade.

Here are a few of the most likely scenarios:

1)  Pulls back here.  You respected resistance until proven otherwise and now have cash available to buy back on support.

2)  Price continues up and confirms above in the next day or two.  This would be a sign that a more significant breakout is occurring.  The two times there has been a confirmation above $1.22, it has led to big moves up.  You wait patiently with your cash for a retest of the breakout to re-enter.

Keeping the charcoal hot for the CryptoDads



3)  Least likely scenario:  This continues to moon only without pull backs.  In which case you celebrate that you didn't sell everything and you still have skin in the game.