Hi friends! Welcome to this analysis on Centrality, via the Centrality/Bitcoin chart. In the coming days, we're going to look at several little known charts that have potentially powerful setups, particularly when compared to BTC. After combing through hundreds of charts, I've found several that have bullish setups, varying from pre-breakout formations, to charts that are in the middle of power moves. Additionally, I'm looking for charts that exhibit deviation from Bitcoin. So, without further ado, let's get right to it!
Here on the daily chart of CENNZ/BTC, you can see that Centrality has been in a long extended period of sideways consolidation. The consolidation has lasted for more than a year, but price appears to be setting up for a major upside breakout. In other words, this asset appears to be setting up to gain significantly in value, compared to BTC.
Looking at the light blue resistance zone, you can see that it is the primary level of upside resistance for price at the moment. Despite that, price is clearly making several attempts to break out above that level.
CENNZ/BTC has formed a clear bull flag, and price seems to be breaking out as we speak. You can see that the past few days have closed candles above the top of the bull flag. Furthermore, there was a strong golden cross formed on the chart last month. When we look at the MACD, we can see that it has just formed a bullish crossover, as momentum attempts a return to the upside after price consolidated in the bull flag.
On the chart, I have a green lateral trendline showing where I think the upside price target could be. As you can see, its about a 100% gain from where we currently are. So, I'm really liking the way CENNZ/BTC is looking right now, and if price can break out above the blue resistance zone, it will be a screaming opportunity for massive short term gains.
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
Here on the daily chart of CENNZ/BTC, you can see that Centrality has been in a long extended period of sideways consolidation. The consolidation has lasted for more than a year, but price appears to be setting up for a major upside breakout. In other words, this asset appears to be setting up to gain significantly in value, compared to BTC.
Looking at the light blue resistance zone, you can see that it is the primary level of upside resistance for price at the moment. Despite that, price is clearly making several attempts to break out above that level.
CENNZ/BTC has formed a clear bull flag, and price seems to be breaking out as we speak. You can see that the past few days have closed candles above the top of the bull flag. Furthermore, there was a strong golden cross formed on the chart last month. When we look at the MACD, we can see that it has just formed a bullish crossover, as momentum attempts a return to the upside after price consolidated in the bull flag.
On the chart, I have a green lateral trendline showing where I think the upside price target could be. As you can see, its about a 100% gain from where we currently are. So, I'm really liking the way CENNZ/BTC is looking right now, and if price can break out above the blue resistance zone, it will be a screaming opportunity for massive short term gains.
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-