After pumping really well, Komodo has retraced and started to accumulate again. With little historical data, TA is quite difficult, and can not always be relied on. But we can only work with what we have. The price is approaching a solid support line, which has been successfully tested a few time making it quite reliable. As for the Fib levels, we can see that the 0.5 level (~0.00050, not sure why the level numbers aren't there) has been consistently used, so we can expect to see some resistance there. I'm hoping we see a major pump off the support line, so it's looking like we may get some more accumulation for the next few days as it gets closer to the support line. Expecting this to be the first wave of an elliot wave cycle so if it does turn out to be, I'll update the thread once we have more information as it is quite hard to predict a price from just one leg
Set stop just under the support line, so around 0.000260
As for entry price I fell now is a good time to enter. If you zoom into the 1H chart you can see the price is in a ranging bullish channel, so if you are after an exact time to enter I would say once it has broken the resistance line of the channel
Set stop just under the support line, so around 0.000260
As for entry price I fell now is a good time to enter. If you zoom into the 1H chart you can see the price is in a ranging bullish channel, so if you are after an exact time to enter I would say once it has broken the resistance line of the channel