Biffy

CMT BTC Macro Analysis

BINANCE:CMTBTC   CyberMiles / Bitcoin
CMT BTC has an long and wild history and has brought in alot of trading volume recently, sparking at all time lows. The bearish momentum appears to be low due to there being no more descending fibonacci fan trendlines coming down from the all time high. The sine lines and horizonal fibonacci show the periods in time where i expect to see price movement. There is a W shaped reversal pattern on the local timeframe, which may lead me to believe that this alt coin has bottomed out; however i wont be making any trades on this pair until we see some confirmed upwards movement. I will use moving averages analyse the momentum in the short term.

Not an expert, not advice.
Biffy
Comment: in the local chart we have this consolidation pattern forming, i'm now watching to see if the price can break above the resistance around 468 satoshis
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