There are a few things to look at with SwftCoin.
1. The stochastic RSI on the 1hr timeframe you'll notice is way oversold.
2. The point of control which is the yellow line, is a resistance zone that it couldn't clear.
3. The dynamic resistance right below the POC is the initial resistance that seems to be the main reason for the rejection.
These 3 factors are bearish and with that being said, the value area low (blue horizontal line)seems to be the next area of interest of price to head to.
If the value area low holds up, I think we will see SWFTCOIN break the diagonal resistance and start to move up to the next area of resistance which is the other diagonal resistance line. That would be an 8% move from the value area low.
Every day the charts provide new information. You have to adjust or get REKT.
Love it or hate it, hit that thumbs up and share your thoughts below!
Don't trade with what you're not willing to lose. Calculate Your Risk/Reward!
This is not financial advice. This is for educational purposes only.
1. The stochastic RSI on the 1hr timeframe you'll notice is way oversold.
2. The point of control which is the yellow line, is a resistance zone that it couldn't clear.
3. The dynamic resistance right below the POC is the initial resistance that seems to be the main reason for the rejection.
These 3 factors are bearish and with that being said, the value area low (blue horizontal line)seems to be the next area of interest of price to head to.
If the value area low holds up, I think we will see SWFTCOIN break the diagonal resistance and start to move up to the next area of resistance which is the other diagonal resistance line. That would be an 8% move from the value area low.
Every day the charts provide new information. You have to adjust or get REKT.
Love it or hate it, hit that thumbs up and share your thoughts below!
Don't trade with what you're not willing to lose. Calculate Your Risk/Reward!
This is not financial advice. This is for educational purposes only.