IGNIS followed BTC and dropped broke to the downside through the bottom of the newly formed triangle. We may find new support near the 100 MA or just below (orange line) and may enter another phase of accumulation.
This is not trading or investment advice. These are my observations and I'm just having fun!
We have a very strong oversold indication on Ignis.
RSI @ 27
Candle dropped below lower Bollinger band
Stochastic RSI in oversold territory (Though give it 2 weeks or so and it will be better placed)
Holding off for a couple of weeks than drip buying over 2 months from here would be better then to buy now. Along with IOTA Ignis best buy ATM
Ignis formed a bottom at 774 satoshis after which price went up, and reached 1524 satoshis high. Although closing price was below the 23.6% Fibonacci retracement level at 1136 satoshis and below the 200 Moving Average.
On a correction down, IGNIS/BTC rejected the uptrend trendline, went up an rejected the 23.6% Fibs once again. It seems that IGNIS has stuck...
Ardor jumped as I said it would in my last Ardor post regarding the cup and handle. The major growth spurt is coming after the current BTC shakeout of overinflated alts. As of now I'm saying May 2nd will be the date, because...why not :-D
Ignis has been added to Bittrex recently and was consolidating for a good run. We analyzed it earlier and said that we will provide a further recommendation when the best time to enter this trade will come. It seems that it is a good moment to buy Ignis as it is ready to bounce from Fib 0.618 support level. Moreover volume is also rising and technical analysis...
Looks to have bottomed out, higher lows starting a new uptrend with cup and handle reversal forming here wolves, still awaiting confirmation on the handle.
Entry point: 0.00001150-1250
Target 1: 0.00001400
Target 2: 0.00001800
Target 3: 0.00002000
Target 4: 0.00003000
Stop loss: 0.00001000