Atoxal

AE/BTC Nice performance considering the global market

BITTREX:AEONBTC   Aeon / Bitcoin
Hello guys, and welcome for this new idea !

Today we are going to talk about Aeon, which has remained strong considering the recent evolution of the market.

So what happenned recently ? We are here looking at the 4hours charts

After a great growth at the end of 2017, AE seems now stuck in a triangle.
The waves inside the triangle seems over, as we reached point E recently, and we should see in the coming days if we are able to break the triangle.

As always, we need more volume if we want to break the upper resistance of the triangle. Since his big move on the 29 december, the volume has continuously decreased, leaving some room for more volume to burst in.

The RSI shows that we might drop a little bit before coming back for the resistance line (which would make sense considering the recent evolution of BTC ). We should bounce from the strong support in black. From there, and if enough volume came, we should break the upper resistance of the triangle, and go towards the previous ATH (8732 statoshi)

This is not an invesment advice, DYOR !

Please feel free to comment, as this post has mainly an educational purpose.

Thank you for your time !
Comment:
You have here the 1 day chart.

First, you should see more clearly the decreasing volume
Second, the RSI is quite low, and will cross his signal line, which might indicate a new rally !

Give me your thoughts on this !

Comments

it will go up easily 100usd end of june
Reply
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