MKR is forming a flag. It appears to be a bull flag as the pole is a steep climb to the upside.
Never the less, it can break to the downside. A flag is a consolidation, or a pull back pattern and can go either way. A break of the top trendline with an uptrend is a signal to go long.
I am in this long term a long with a few other coins. But still happy to see the flag (o:
If the 50 SMA (orange) crosses up through the 200 (red) that would be a golden cross and is a signal that an uptrend may start up. It is not there yet though but the 50 is sloping up as is the 200. Again the 100 (yellow) not looking so hot but the 20 (blue) looks great.
I am like almost over the stock market this week! LOL The media has been a bit negative on coins, speaking of new regulations etc. When the talking heads start downing something for a bit, I like to take a look.
Negative volume is not so great on MKR. Perhaps it will pick up but something to be aware of.
No recommendation
Never the less, it can break to the downside. A flag is a consolidation, or a pull back pattern and can go either way. A break of the top trendline with an uptrend is a signal to go long.
I am in this long term a long with a few other coins. But still happy to see the flag (o:
If the 50 SMA (orange) crosses up through the 200 (red) that would be a golden cross and is a signal that an uptrend may start up. It is not there yet though but the 50 is sloping up as is the 200. Again the 100 (yellow) not looking so hot but the 20 (blue) looks great.
I am like almost over the stock market this week! LOL The media has been a bit negative on coins, speaking of new regulations etc. When the talking heads start downing something for a bit, I like to take a look.
Negative volume is not so great on MKR. Perhaps it will pick up but something to be aware of.
No recommendation