Looking at past history, we can see how Holo ( HOTBTC ) produces a on its correction before breaking out to the upside.
We saw a really strong move after a low was hit on the 13 May. This impulse lasted until yesterday, 21 May, and generated over 92% profits. On the retrace, we can see that today's is back within the triangle.
Support can be looked at around the 19-21 satoshis range. 23 satoshis if HOTBTC remains really strong.
Once HOTBTC finds support, we can buy-in and go long.
- First wave went from 15 to 29 satoshis breaking above multiple resistance levels.
- EMA100 (24 satoshis) is the immediate resistance. Needs to be broken and close above for additional action.
- EMA200 (22 satoshis) is the immediate support. Needs to be broken for further retrace.
The arrows on the chart mark two of the main potential scenarios. This is not what will happen, but what can potentially happen.
This is not financial advice.
All information is shared for learning and entertainment purposes only.
Thanks a lot for reading.