jpbrown1023

KORE - Hitting 2018 low as it hits key support

BITTREX:KOREBTC   None
KORE is on sale as it hit the lowest price it has seen since June 2017. In fact, the key support it finds itself on was once a multi-year resistance line. It is in a falling wedge and the volume and volatility are getting tighter and tighter. This usually means extreme volatility isn't far away, for which we will be looking for a breakout to the upside. Bullish divergence has been developing for the past month on the MACD as well. Whether this is a completion of the larger pattern or not remains to be seen, but one could make that argument. If so, we could be in for one hell of a ride!
Comment: The latest Bitcoin collapse caused KORE to fall through its support levels and find support in a much larger falling wedge pattern. Unless KORE gets some buyer support,the price may stay within these levels until November when the pattern completes.
whats your target ?
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jpbrown1023 mustapha85
@mustapha85, good question. Depending on the kind of investor you are, I placed several short-term targets and a long-term target. Kore is an explosive crypto that loses gains as quickly as it gains them. If you are a short-term trader, I suggest having your sell orders ready at your target price in case the price pumps. Then I would keep an eye on the Fib retracement for re-entry. Kore seems to work like clockwork with the Fib retracement. If this next bull run is anything like the last, you could couple your gains multiple times over before it peaks. If you are a long-term trader, now is a great time to buy at 10x off its target. KORE broke through a previous support level and has continued down this falling wedge pattern in blue. My wedge completes before the .00015sat mark early-mid August. But that is if the price action goes all the way to completion. It could definitely jump before then and the price moves so quickly, either buy now or have orders ready so you don’t miss out on the gains. Good luck!
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mustapha85 jpbrown1023
@jpbrown1023, Thank you
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jpbrown1023 mustapha85
@mustapha85, you're welcome! It's following course so far.
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