World coins has seen a nice push to the down side since its launch. Following the trend of the lows down on a log scale price has bounced a few times and is currently retesting the same trend.
IF BTC and ETH make a small corrective push up many ALT coins will mostly likely will do the same.
Taking the same trend line from the lows and applying it to the high to create a parallel channel creates an area of interest at the golden pocket area of the swing IF the low is in at the trend line.
While just a retrace given the size of the swing the target area is approximately 30%.
Being this is highly volatile and there is not guarantee of a corrective a stop loss just below the trend line is in order
Trade Well....
IF BTC and ETH make a small corrective push up many ALT coins will mostly likely will do the same.
Taking the same trend line from the lows and applying it to the high to create a parallel channel creates an area of interest at the golden pocket area of the swing IF the low is in at the trend line.
While just a retrace given the size of the swing the target area is approximately 30%.
Being this is highly volatile and there is not guarantee of a corrective a stop loss just below the trend line is in order
Trade Well....
Comment:
needs to be reviewed for a fresh look