3 Reasons: Location: At new lows Momentum: Divergence confirmed on MACD. Structure: Double Bottom, waitin for entry at confirmation of W and risk stops against structure bottom.
Recently CloackCoin has found the bottom at $1.4, where it has rejected the lower trendline of the descending channel. The following wave up resulted in a break above the 50 Moving Average and the upper trendline of the descending channel. Current price action suggests the upcoming corrective move upwards, where price is expected to reach major resistance at...
Cloak has a history of pumping hard from the bottom and we have just broken out of triangle.
Only buy it if we break out from downtrend (very likely).
historical price analysis is showing a pattern of fractal breakouts
Fresh look on this pattern.... still amazing potential!
CLOAK/BTC, 5/23/18, analysis completed at 9:00 PM EST, by Michael Mansfield. Hi trader friends, for this post I am using “3 day” price bars with Candlestick wicks removed. And, we are using Log Scale, which can make a huge difference in look and analysis results. Read why below. But first... BOTTOM LINE FOR CLOAKCOIN: CloakCoin is likely in the late stage...
Weekly Looking at our highest timeframe we see price respecting an ascending triangle. Next stop is 50000, not expecting our 100000 support level to hold. Market is in the middle of a sell off. Stochastic RSI showing momentum is heading towards the downside. Wait for a drop towards 50000, bouncing off our dynamic and horizontal...
Looking at the long term price action, CloakCoin continues to reject the uptrend trendline, and most recent bounce occurred back in April. Price then found the bottom at $4.5 and went up sharply, breaking above the 200 Moving Average. CLOAK/USD reached the high at $26 and corrected down to the $9 area, where it found the support at 76.4% Fibonacci retracement...
With Binance running a competition for most trades with this currency--and it's lack of leverage making short positions less appealing, I suspect we'll see this little guy rally a bit. Still, I wouldn't pull the trigger too early--I'd wait for either the SMA cross (orange over blue) or for the RSI to bounce off 50. (calculation in the strategy tester assumes...
Excuse the clutter, tried to get as much historical trends in as possible. This coin has a clear history of cups and handles with huge swings going both ways. GREAT setup for the long term trader looking for 3x-5x and then reload profits. With current setup, we have a CLEAR and PERFECT Cup and Handle that bounced off several MAJOR support zones. First, on Ichimoku...
Hey Guys, We have reached again the support zone for BINANCE:CLOAKBTC which hold us many many times before. I´m definitely in - all details in the chart. Take care. Marek
CLOAKBTC - previous analysis stopped out . but there is a harmonic formation now. Following...
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Cloak bounced hard off of the bottom and is looking to move on up. Technicals look decent. On the lower end for volume so be careful. Buy blue, sell green, stop at red.
CLOAKBTC 42% + 153% + After a large pump and correction, the price seems to be ready to go up again! Enter the trade according to your trading plan and always consider the risks. In time, take profits and get pleasure from trading. All good luck and good trade.
It's all downhill from here until July. Support line will be reached in July, follow the lines.