Cup and Handle. Bullish sign that the consolidation is over and the bulls are starting to take over the balance of power. This coin has been really chomping to take off but the 20 and 30 BTC sell walls which are placed all over the first 50 orders in the book have been successfully stopping what could have been some very strong upward momentum.
At the time of writing, the handle has broken through some strong resistance. There's still plenty of impressive sell walls ahead. Let's see if the momentum can't encourage some of these Bears to lift their embargo's against their own profit.
Could be some time to buy in. But that window is closing. As soon as the first 20 BTC wall is met and pulled it's game-on for another run. Can't determine a sell position. Just know that it's probably going to be like last time so it won't last long. Just pay attention to RSI, Volume Oscillator, and don't get *too* greedy.
Good luck!
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RSI scaring all the traders. New support at 400 Satoshi. Looks like price will consolidate around 420 Sat's until MA 200 and MA 50 get closer to convergence. RSI will be midline by then and the chart will be viewed as more mature / stable.
Doing very well considering the amount of coins that are in double-digit Red zones.
High for the day may be 490. Support 400.
Set sells and stops according to your risk tolerance.
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Here we are. The apex.
Next move, after reality sets in...
A low of 480 Sats. And then consolidation. We're going to move up from 480 as a bare minimum floor to a support level around 515.
We have entered the "GTFO" phase of this chart all the way up here at 777 Sat's.
do you guys think that gonna pass the 400 sats ???
VanBenno
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@olpizfit, Yes. Sorry about the late response. I think there is a lot of resistance at 450 but the goal by the end of the day is 500 Sats. Look back when Asia is waking up and, if we're lucky, it'll be testing or passing 500 Satoshi.
VanBenno
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@olpizfit, I should have mentioned that I trade this coin on Binance. Huge arbitrage opportunity there. For some reason this coin is always 100 Satoshi more during runs than on Bittrex.
olpizfit
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@VanBenno, THANKS.... so that mean is on the highest price now.... thanks...
VanBenno
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@olpizfit, Looks like a possible bear trap to me. RSI is showing overbought and is scaring traders. I think it's going to consolidate closer and closer to 420 until RSI is midline, MA-50, and MA-200 begin to converge.
olpizfit
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@VanBenno, Yeah.. i sold it... i buy it at 285 sats and sold at 455 sats... decent profit..