We’ve been seeing what appears to be a forming bullish flag/pennant since the last ATH; the yellow and green lines don’t mean too much—they’re just connective lines between cycle lows I draw for myself. Perhaps we have found/made some good resistance at the approx. four cent area, but as for the fib retracements during this cycle it’s pushed to a good median area of 3.272. As for the last three cycles we’ve had in the last few days the percent change in price has been ~60%, ~80%, and ~100% for the last. According to the fibs I’ve used the price would push approx. the ten cent area, and according to the successive price change I’ve used it would push approx. the nine cent area, so I would say we could comfortably look for an increase to around nine cents for the next run or we could blow right through that or we could tumble down… who knows, anything is possible. This is a crypto my grandad has been raving and talking about for years due to the vital utilization it has as a geo-spatial proof of location, and I believe it’ll be quite bullish in the time coming as well, but we shall see.
Comment:
I said flag/pennant above… it was looking like that earlier today, and that’s what was on my mind when writing this but it seems to be now forming into a descending triangle, this this could be bullish or bearish; we must wait for confirmation.