twismo
Long

IGNIS-BTC - Looking for Long Buy Opportunities

BITTREX:IGNISBTC   Ignis / Bitcoin
I am looking to increase my holdings of IGNIS as a long term hold through 2018/19. $IGNIS is the first child chain of Ardor ($ARDR) which is built on NXT ($NXT) technology. IGNIS is a blockchain-as-a-service which uses child chain concept to solve the problem of scalability. Ardor has a strong community and a good develop base. This could be a dark horse in the smart contracts developer sector.

Technical Analysis:
- Only been trading on Bittrex for a few days and falling ever since. Not helped by the over bearish mood in Crypto.
- The recent bounce on the 30 minute coincides with the mood reversal in crypto. Are we at the bottom?
- I have drawn some key levels in blue which are supported by the volume profile at those levels.
- The point of control ( POC             ) is shown in red. Price will look to return to this level however it first has to get through the 0.00003512 level which also has strong volume .
- Price is back with the EMA 50 but it looks to be acting as a resistance level on the last two bars.

Overall it looks fairly bullish but I will monitor for a while to see how it plays out before putting in buy orders. Likely near-term is price will drop to the 0.00002949 and then recover. This could be a good place to buy if is respects that level.

"Luck is what happens when preparation meets opportunity"
This is not investment advice. #DYOR.
Comments and suggestions always welcome below.

Looking to increase my position as well, will keep checking back for updates, thanks!
+1 Reply
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