$VIRTUAL #AltcoinTrade

Decided to write a longer trade plan on my position in #VIRTUAL (Daily, Weekly, Monthly charts attached below).

First pocket pivot buy signal since it broke out of its standard base. To judge whether the move will have more legs, you just need to see how the asset runs up before the next consolidation. A very powerful move with volumes signal steady institutional/whale demand and that very like the asset will run further once it gets a chance to digest some of those gains.

Digestion is what we saw as VIRTUAL pulled right back towards its 21EMA. Very natural for a momentum leader to pull back towards the 21-EMA. Thereafter it staged a pocket-pivot buy signal, first since the move began providing an entry for anyone who missed the initial move higher.

I have based my risk off of the 50-day, hence why I have only 2x leverage. Then the plan is simple:

a) Initiate a starter position which I have done.

b) Watch how it does. Any pull back should be tight and on thin volumes. There shouldn't be any sharp breaks in price.

c) If a pull back does happen, it will likely provide additional pocket pivot buy points and I intend on using these signals to add more.

d) Levels to clear - $2.10 and $2.70 remain the most immediate levels to clear. There after it's $3.80 and the all time highs.

e) Plan is to turn this into a position trade all provided it acts right. Could turn into a multi-bagger if so.