Important points first:
Bullish points:
- KST is indicating a cross very soon, and it is near the 0.00 mark. Typically a cross under or at 0.00 going upwards is an indicator of a bullish push.
- Harmonic Bullish pattern is forming and is bouncing off the 0.5 Fib support, so a push to a higher level is likely.
- Most recent bearish push down over the past 5 days, the volume had been higher than the last push down, and yet it still held the ~$1.75 mark (0.5 fib level), this tells me bulls are still in control of this coin.
Bearish points:
- Bids/Asks are slowly decreasing over the week, in addition to a decreasing price, and decreasing volume. Therefore, we have 3 things it's falling in: Price, Volume, and Bids/Asks. This is a sentiment for weakening downtrend. Why does this make sense? Because Price has been slow creeping upwards from the recent lows. And a strong support around around $1.7 is being held.
What do I do at this point?
Wait for the KST crossover upwards on the daily. Wait for the MA 7 to cross over EMA 7. All of this indicating a time line of 1 week by March 20.
If price shoots up and then downwards as drawn, then that confirms the bullish harmonic pattern (because it should have a push down after a rise to start the bullish run...all this is drawn).
If candle closes below $1.6 this is a bearish push down for sure. So eyes on that too.
I have already placed my buys, and for any one still waiting, give it a week. Wait for it close a candle above $2.05 and then place buys accordingly
Bullish points:
- KST is indicating a cross very soon, and it is near the 0.00 mark. Typically a cross under or at 0.00 going upwards is an indicator of a bullish push.
- Harmonic Bullish pattern is forming and is bouncing off the 0.5 Fib support, so a push to a higher level is likely.
- Most recent bearish push down over the past 5 days, the volume had been higher than the last push down, and yet it still held the ~$1.75 mark (0.5 fib level), this tells me bulls are still in control of this coin.
Bearish points:
- Bids/Asks are slowly decreasing over the week, in addition to a decreasing price, and decreasing volume. Therefore, we have 3 things it's falling in: Price, Volume, and Bids/Asks. This is a sentiment for weakening downtrend. Why does this make sense? Because Price has been slow creeping upwards from the recent lows. And a strong support around around $1.7 is being held.
What do I do at this point?
Wait for the KST crossover upwards on the daily. Wait for the MA 7 to cross over EMA 7. All of this indicating a time line of 1 week by March 20.
If price shoots up and then downwards as drawn, then that confirms the bullish harmonic pattern (because it should have a push down after a rise to start the bullish run...all this is drawn).
If candle closes below $1.6 this is a bearish push down for sure. So eyes on that too.
I have already placed my buys, and for any one still waiting, give it a week. Wait for it close a candle above $2.05 and then place buys accordingly
Comment:
Comment:
price broke the 1.79 mark, but now is not the time to buy still.
BUY IF:
1) If it continues a downward movement to 1.72 and then back up to 1.82 (forming the right shoulder of the inverse H&S on 4H) and what is mentioned in the screenshot above (not the original analysis)
OR
2) If it breaks 1.9 and and closes a candle above 1.91 (forming the upside leg of the bullish harmonic pattern in the original analysis)
BUY IF:
1) If it continues a downward movement to 1.72 and then back up to 1.82 (forming the right shoulder of the inverse H&S on 4H) and what is mentioned in the screenshot above (not the original analysis)
OR
2) If it breaks 1.9 and and closes a candle above 1.91 (forming the upside leg of the bullish harmonic pattern in the original analysis)
Order cancelled:
crashed everywhere
Trade closed: stop reached
Only reason price is not moving higher is the volume needs to double. As soon as the volume hits $140M+ GRT will most definitely start its bull run. I will keep this post updated.