UBIQ is a strong player in the smart contracts space which I feel has a fair chance of gains in 2018 once the alt coin winter is over.
Looking at the chart against BTC it is trading about 300% lower than the epic price it reached back in Mid 2017 - Will it return to this level? Who knows. There is a potential death cross occuring currently. Last time this happened price continued to fall for a a couple of months.
BTC seems to finally be gaining some strength generally so I think it will out perform alts in the next few weeks - we will likely see the price drop down to the buy zone indicated. The bottom of this zone was a previous strong area of support with high volume levels. i will look to pick up some coins in this area, buying in small percentages - saving some should it drop further.
Looking at the chart against BTC it is trading about 300% lower than the epic price it reached back in Mid 2017 - Will it return to this level? Who knows. There is a potential death cross occuring currently. Last time this happened price continued to fall for a a couple of months.
BTC seems to finally be gaining some strength generally so I think it will out perform alts in the next few weeks - we will likely see the price drop down to the buy zone indicated. The bottom of this zone was a previous strong area of support with high volume levels. i will look to pick up some coins in this area, buying in small percentages - saving some should it drop further.
Trade active:
I have been on vacation for a while so have not been updating this thread. I set a buy order in my buy zone which activated mid march. We saw some good gains but now UBQ is tracking back down. Let's look at current TA:
- Sellers have been in control of volume for the past week which is contrary to most other alts.
- RSI fall through the 50 and has not hit oversold territory which might indicate price will start to recover soon.
- I have added two new S&R levels as dotted lines. These are from the 4HR chart. 0.00024771 has acted as support on numerous occasions but has not been a strong resistance. 0.00023490 could develop into a new support level.
Looking Forward:
- Observe to see if price holds between these two new S&R levels.
- I have set more buy orders within the buy zone. Should price drop through 0.00023490 then it is likely to move back into this zone. Specifically level 0.00019002 has been strong previously.
- My red longterm (diagonal) resistance line needs to be broken before UBQ can be said to be bullish. Until then it is still in bear trend started in mid Feb. Also look for price to increase and be supported by the 200 EMA to confirm bulls are in control.
- Sellers have been in control of volume for the past week which is contrary to most other alts.
- RSI fall through the 50 and has not hit oversold territory which might indicate price will start to recover soon.
- I have added two new S&R levels as dotted lines. These are from the 4HR chart. 0.00024771 has acted as support on numerous occasions but has not been a strong resistance. 0.00023490 could develop into a new support level.
Looking Forward:
- Observe to see if price holds between these two new S&R levels.
- I have set more buy orders within the buy zone. Should price drop through 0.00023490 then it is likely to move back into this zone. Specifically level 0.00019002 has been strong previously.
- My red longterm (diagonal) resistance line needs to be broken before UBQ can be said to be bullish. Until then it is still in bear trend started in mid Feb. Also look for price to increase and be supported by the 200 EMA to confirm bulls are in control.
- Drawn fib levels from the recent Dec low to Feb High and some key R / S levels (black)
- Drawn Green dashed lines showing long term, short term support trends, and resistance trends.
- Blue boxes are an idea looking it how we respond to the death cross (50 EMA moving below the 50 EMA). As show previously the market dropped 60% over 53 bars. Looking to see if history repeats. Unlikely but just looking for patterns....Interestingly enough this would take price back to the long term support trend.
I will only long trade this pair once it shows a strong reversal. The trend is your friend....