Alright guys I believe we have a more definitive chart as the coin is maturing since its only 2 weeks old.
I've came up with many theories as the coin launched but I believe this to be a much better technical analysis with the fib indicators, the downward channel of resistance (which I actually made some time ago that is still valid and is acting as resistance), and the current market conditions for Goldfinch to ideally have a bounce.
We went as low as 3.85 and had a strong 30% bounce above 5 dollars right at the bottom of my downtrending channel that is still valid after about a week of me producing it, to which we proceeded to dump back down to 4.12 again. I altered some fib levels and everything seems to line up much nicer since the coin is maturing with time. Unfortunately, we fell below my downtrending channel and the bottom of it is now acting as resistance.. I don't believe it will last as resistance so long as BTC doesn't crash to 30k (which is most likely will hit 32-30k at this rate.)
Long story short: this coin is going to do at least a 2x once BTC rebounds. It's market cap is ONLY 20 million, with a circulating supply of ONLY 5 million. Wouldn't surprise me if whales are accumulating massive amounts of Goldfinch at these levels. The only issue now is that since the market cap is so low you can have a whale literally own a good portion of the circulating supply, I mean they could accumulate around 10-50% of the circulating supply at these levels and dump it later. That being said I can easily see this coin being one of the most manipulated on Coinbase at the moment. All I can say is think ahead of what the whales would do AFTER it pumps and has a correction to the upside, because I guarantee you with a market cap of only 20 million you're looking at massive accumulation by single individuals at these levels.
I've came up with many theories as the coin launched but I believe this to be a much better technical analysis with the fib indicators, the downward channel of resistance (which I actually made some time ago that is still valid and is acting as resistance), and the current market conditions for Goldfinch to ideally have a bounce.
We went as low as 3.85 and had a strong 30% bounce above 5 dollars right at the bottom of my downtrending channel that is still valid after about a week of me producing it, to which we proceeded to dump back down to 4.12 again. I altered some fib levels and everything seems to line up much nicer since the coin is maturing with time. Unfortunately, we fell below my downtrending channel and the bottom of it is now acting as resistance.. I don't believe it will last as resistance so long as BTC doesn't crash to 30k (which is most likely will hit 32-30k at this rate.)
Long story short: this coin is going to do at least a 2x once BTC rebounds. It's market cap is ONLY 20 million, with a circulating supply of ONLY 5 million. Wouldn't surprise me if whales are accumulating massive amounts of Goldfinch at these levels. The only issue now is that since the market cap is so low you can have a whale literally own a good portion of the circulating supply, I mean they could accumulate around 10-50% of the circulating supply at these levels and dump it later. That being said I can easily see this coin being one of the most manipulated on Coinbase at the moment. All I can say is think ahead of what the whales would do AFTER it pumps and has a correction to the upside, because I guarantee you with a market cap of only 20 million you're looking at massive accumulation by single individuals at these levels.
Comment:
Wow, on the updated candles its actually following the top of my second channel PERFECTLY. Crazy to see that.
Comment:
January 24th to the 25th have a lookout for the breakout. Thats my apex.