Above we have a nice buy setup.
RSI is holding bullish areas, especially the 6h trendline shown in green. Currently we are at support so even 114 is a good buy IMO.
This coin is heavily oversold and recently has been gaining volume and testing resistances up pretty high.
I do suspect this bounce will be a strong one but it likely will not be strong enough to bring it back to 2018 levels.
That said, I will be holding FUN long term as I believe in their fundamentals, but for now I'm just gonna trade it :)
I think this coin will be a very very big gainer throughout 2019.
Last idea was invalidated due to Bitcoin having a nice fat dump, so if Bitcoin breaks $3,350-$3,400 support this idea is invalidated- again. GL!
RSI is holding bullish areas, especially the 6h trendline shown in green. Currently we are at support so even 114 is a good buy IMO.
This coin is heavily oversold and recently has been gaining volume and testing resistances up pretty high.
I do suspect this bounce will be a strong one but it likely will not be strong enough to bring it back to 2018 levels.
That said, I will be holding FUN long term as I believe in their fundamentals, but for now I'm just gonna trade it :)
I think this coin will be a very very big gainer throughout 2019.
Last idea was invalidated due to Bitcoin having a nice fat dump, so if Bitcoin breaks $3,350-$3,400 support this idea is invalidated- again. GL!
Comment:
Possible bear pennant, or symmetrical triangle:
Weekly shows a potential oversold rejection along with bullish divergence. Lots of very long wicks including a very high volume rejection, however all of this is proceeded by a long legged bearish doji. A LOT of bearish pressure was soaked up here. MACD shows a bullish cross since late december. Volume seems to be steadily increasing.
Daily RSI shows a massive bull flag forming:
MACD on almost all time frames is ready to roll over bear, the RSI and the price pattern all corroborate a potential high volume breakout here soon. Considering the MACD is sitting very near the zero line in almost all major time frames, whichever direction this breaks out will likely be a very large move. Stop loss here is easy, place it just directly underneath previous support at 108.
Weekly shows a potential oversold rejection along with bullish divergence. Lots of very long wicks including a very high volume rejection, however all of this is proceeded by a long legged bearish doji. A LOT of bearish pressure was soaked up here. MACD shows a bullish cross since late december. Volume seems to be steadily increasing.
Daily RSI shows a massive bull flag forming:
MACD on almost all time frames is ready to roll over bear, the RSI and the price pattern all corroborate a potential high volume breakout here soon. Considering the MACD is sitting very near the zero line in almost all major time frames, whichever direction this breaks out will likely be a very large move. Stop loss here is easy, place it just directly underneath previous support at 108.
Comment:
FUN is soon to break, which direction will it go?
Comment:
I would strongly advise people to pick up a bag of FUN some time soon:
In the near term, FUN has been consolidating nicely at around 110 sat support.
For the past 80 days FUN has overall held this important support.
The MACD on the daily has held incredibly well considering this is the first time FUN has been able to breach the zero line since September.
The weekly RSI for FUN has consistently bullishly diverged since December.
For the past 80 days FUN has overall held this important support.
The MACD on the daily has held incredibly well considering this is the first time FUN has been able to breach the zero line since September.
If Bitcoin has a nice fat dildo I also expect this idea to be invalidated.
Expect the unexpected as they say.