Particl has been fluctuating in this zone and with a constant high of around .0038 but increasing lows. I have been watching the orders going through like a hawk and there appears to be some serious accumulation by big players over the last two days in this range. I have seen buy orders from whales being filled ranging anywhere from 5 BTC to 15 BTC meaning that I feel a large push is about to happen. The last run brought it up to the 1.618 fib line @ around .0038 so I imagine a similar run will happen. In this case, the 61.8 is located around .0051, My target is going to be 0.00505. The RSI is also looking like it is preparing for another run. If it falls below this trend line, next major supports will be around 0.003, 0.0027, and 0.0025. I also like the concept of the coin so I might keep some in for a long term investment.Good luck fam!!
Sorry but I disagree with just about everything you've done with your chart.. The starting fib point makes no sense, the %'s are in reverse and the trend line is being forced to draw what you want to see...
The start of the fib retracement should star at the bottom of the candle before the first big volume pump. Secondly the fib retracement is drawn bottom to top, not top to bottom (in tradingview).
The trend line you drew does not work, you try to make it work, but it doesn't.
Lastly; your fib retracement as I mentioned above should start before the first volume candle, that is only applicable to the first move. Once you draw the fib you see that it bounced perfectly off the 61.8%, your next fib drawing should be from the bottom of that 61.8% retrace and connect it to the top of the next run.
TylorHunn
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@Demoniaco, I know the fib is upside down here, and the only reason for doing so was so that I could find the 61.8% target, I have now just changed the settings by adding a -0.618 to my lines of the fib so I can see it without doing it upside down (I also got rid of these ridiculous colors).
From what I have learned trading crypto, it is that trend lines can form between any two points whether it be short or long term; you dont need to agree with my trend line but I just know that trend lines can form out of anywhere. With the current price of the coin and with how new the coin is, there isnt really a huge plethora of options available to draw support and resistance lines, I am just using the information I am given in the short term. And you can see that there was some support around the trend line that I drew which is why it held a bit between the .0033 to .0034 area for some time and then fell back to the first support that I mentioned.
With regards to the start of my fib points, fib points are supposed to be drawn from the lowest point right before the push to the highest point where price found resistance. The lowest point before the push was right around 0.00175 and the highest point where resistance was found was 0.0038, hence why I put those there. Like I said, you don't have to agree with me, I am just drawing what I see.
If you drew up a graph of what you are seeing with the current price action and posted it in the comments here, I do value looking at those charts because a lot of times, other people notice things that I never considered. Cheers
TylorHunn
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@Demoniaco, And looking at it on the 4 hour chart which is usually a bit better of an indicator tool for the long run, it is currently sitting and holding on the 38.2% retracement (Using the same fib lines as my graph above, depending on if you agree with it) which is usually a good indicator of a trend continuation. So to sum up everything I said, I think Particl is going to continue moving up haha
Azurescens
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I believe you are right. We are now in the consolidation phase.
The interval between the rallies seems to be 3-4 days. So I expect a rally the 17th or 18 Jan.
TylorHunn
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@Azurescens, Some big orders are starting to come in here at 38.2% retrace so hopefully it starts to go on its next push here, I am terribly impatient haha
The start of the fib retracement should star at the bottom of the candle before the first big volume pump. Secondly the fib retracement is drawn bottom to top, not top to bottom (in tradingview).
The trend line you drew does not work, you try to make it work, but it doesn't.
Lastly; your fib retracement as I mentioned above should start before the first volume candle, that is only applicable to the first move. Once you draw the fib you see that it bounced perfectly off the 61.8%, your next fib drawing should be from the bottom of that 61.8% retrace and connect it to the top of the next run.