Following a correction of almost 90% since Mid-August and oversold condition (orange column) there is now an ‘incredible buy’ opportunity.
On the above 1-day chart price action has confirmed a regular bullish divergence between price action and the oscillators together with increased volume = very bullish.
1st target $3.05
2nd target $7.20
This trade remains valid from price action remaining above 73 cents.
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The weekly chart printed a new candle with the close of last week, a Dragonfly DOJI. The length of the tail with little to no shadow above tells us we're about to see an impressive move to the upside.
If you're holding this token, be happy ;)
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The power of a weekly DOJI candle - never never ignore.
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Double Dragonfly DOJI candles on the 9-day chart... crazy weeks ahead.
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10-day chart below prints a new candle - what a chart - almost tempted to take a position, but then that would mean studying more charts than I'm comfortable with.
What's going on here? On the 10-day chart the green line is the 21-week / 150 day moving average. Price action finds support on the moving average with a long tail below. Holders of Swipe are likely to see some strong upside in the weeks ahead.
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The next resistance is @ $2.10 or 50% from current price action.
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2nd target update. After a period of study I'm reasonably confident in updating the original $7.20 target to $17.20. Which would take Swipe market capital to just over 1billion, not unreasonable in the scheme of things.
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Making nice progress - expecting some resistance around $2.15 mark. *Expecting* does not equal *There will be* :)
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Arrived at the $2.15. What happens now?
Like every alt-coin that has approached the upper band of the pi-cycle we've seen sideways action until it breaks though and tests as support.
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Looks like price action is going to visit the $1.50 area before continuing the uptrend
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1st target reached. Almost 300% in a little over 30 days.
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Look for support around $1.30 during this sell off in the market before price action continues the upward trend.
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Not liking the look of the recently printed 2-week candle, which suggests a visit back down to the $1.30 - $1.50 region.
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Weekly candle closed above the previous high - now a straight run to the 2nd target $7.20
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Move to 2nd target, $7.20, will now follow.
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Blue skies ahead. Price action moves past previous all time high. 600% return so far and no more resistance. All we can go now is watch the trend to determine overbought condition.
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Hidden bullish divergence
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Expecting the next leg up to take price action to target as the 10-day chart below resolves the current accumulation pattern.
The Binance version of Compound is paying almost 20% for Swipe token holders at the moment. Gain setting = moon.
@gigabyte3d, ICON / ICX - for a number of reasons. Most notably the Monthly dragonfly DOJI - the only coin listed on Binance that I can see with that momentum behind it.
Will keep following you.
Take care.