The coin I've started with mid 2017 (at least, becoming more active in this market, fascinated by the big swings from coins).
What do we see on this chart? A lot of things!
- Retraced all the way down to even 70 sats from the big jump earlier in 2017. - Climbing back up, breaking the green zone --> red zone became resistance (big one) and currently retracing back.
Combining this with the following things: - RSI getting close to the 30 zone --> oversold - Volume spikes during the accumulation fase, we've seen that before. - Lying on the 0.618 fib retracement level from the first run up. - Lying on the 200 EMA too. - Facing resistance pretty soon.
Expecting this one to jump to the red resistance zone pretty soon. So I'm definitely buying in this area and holding for a while.
First target: 600 sats Second target: 800 sats
Depending on the patterns then + maybe some FA coming in to play + potentially breaking that level, could induce that we will see another big run up.
Will keep you posted about this one weekly.
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Second possible way of trading is buying 50% now.
In case we can't break resistance (which shouldn't be a problem in my mind), we'll buy 50% in ATL zone of <200, lowering our avg. buyin.
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Possible falling wedge in play too, making higher lows now.