Just a heads up, Bancor did it once and its likely to do it again. Keep an eye on it as the formation is so far neat and the indicators keep getting bullish divergences. There is no setup to consider entering yet, but when it gets to the level, then we have the next piece of the puzzle. Currently is only planning stage.
It's like when BTC finds an area to slow down and consolidate, then like many ALTS will find the moment to break to the upside. First target's like 40% gain.
Cheers, S.Sari
PREVIOUS POST: I made no trade in it at all. So maybe this time I'll time it.
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This looks like its going to spill down with a quick snap back.
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The spill over more likely
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Change of plans
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Its not looking good on the weekly and one can see it took a long bullish divergence to break the downward trajectory. Currently holding the 0.618 retracement. RSI below 50% which is bearish.
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I had my chart tweaked to fit the RSI and here is what it is. Got the level right.