These types of charts get me excited and make my heart pump faster! Also, I am looking for a pump in the POE chart. I could see plenty of bullish patterns including:
a) Symmetric Triangle;
b) Flag and Pole;
c) Pennant;
d) Elliot Wave (in the making); and
e) ABCD.
One may ask why did I draw a bearish pattern: BAT harmonic pattern. Well, all indicators point for a breakout and Line D would form and complete the BAT Pattern. This is good news with a bearish pattern. Gasp!
BTC price is not stable at all especially because of CME Futures Contract which expire on 26 January 2018 i.e. Friday. If price continues to drop, altcoins usually follow and could drag POE price with it. I would follow price closely until Friday and try buy several dips so as to average price in case in drops or breaks out early.
Also consider profit exit points. The chart is for illustrative purposes only. I combined two Fibonacci Extensions from two different points and drew out those two sell targets: one conservative and one risky. Consider the volatility in the crypto-market when making such decisions. Set limit buys in order not to miss the pump and limit sells to secure profits if price tumbles down.
We'll see if this turns out to be one of those hero or zero moments.
This is not an investment advice, always do your own research.
a) Symmetric Triangle;
b) Flag and Pole;
c) Pennant;
d) Elliot Wave (in the making); and
e) ABCD.
One may ask why did I draw a bearish pattern: BAT harmonic pattern. Well, all indicators point for a breakout and Line D would form and complete the BAT Pattern. This is good news with a bearish pattern. Gasp!
BTC price is not stable at all especially because of CME Futures Contract which expire on 26 January 2018 i.e. Friday. If price continues to drop, altcoins usually follow and could drag POE price with it. I would follow price closely until Friday and try buy several dips so as to average price in case in drops or breaks out early.
Also consider profit exit points. The chart is for illustrative purposes only. I combined two Fibonacci Extensions from two different points and drew out those two sell targets: one conservative and one risky. Consider the volatility in the crypto-market when making such decisions. Set limit buys in order not to miss the pump and limit sells to secure profits if price tumbles down.
We'll see if this turns out to be one of those hero or zero moments.
This is not an investment advice, always do your own research.
Trade active:
POE is taking it's time to breakout. Fortunately for us POE price dropped to an attractive level and is actively in our price area range. The price is not as volatile as previous days and is consolidating and building up for a squeeze.
I do not exclude price dips to 785 to form a double bottom and take-off from there. That would be an exceptional buy.
Observe price depth, price walls and set your stops if you decide the time is right to buy.
I do not exclude price dips to 785 to form a double bottom and take-off from there. That would be an exceptional buy.
Observe price depth, price walls and set your stops if you decide the time is right to buy.
The rest have a safe trip on the next train!
Good luck and hodl!