HEX ready for another rip?
After an impressive run up of 600+% in less than 90 days Hex has now been down trending for the last 30days and down 55% from its rally high. Buy in the red sell in the green warrants a possible purchase price if looking for an entry.
Using a logarithmic 4hr line chart to measure the amount of time it takes to break trend we can see we are reaching the half way point of this cycle. These are typically good points to look for reversal signals if one can be expected.
After 30 days and 50% down right at the mid point of the trend cycle we are also approaching the 30 degree mark.
Looking at the price action we can see selling is slowing and taking longer periods of time to lose the same percentage of value.
It is very reasonable to expect a full reversal and continuation of the uptrend or at least a 20% push up to the 200 period moving average.
Using a logarithmic 4hr line chart to measure the amount of time it takes to break trend we can see we are reaching the half way point of this cycle. These are typically good points to look for reversal signals if one can be expected.
After 30 days and 50% down right at the mid point of the trend cycle we are also approaching the 30 degree mark.
Looking at the price action we can see selling is slowing and taking longer periods of time to lose the same percentage of value.
It is very reasonable to expect a full reversal and continuation of the uptrend or at least a 20% push up to the 200 period moving average.
