💎Technical Analysis Summary💎
-POE broke its weekly key support area around 10s sat
-The price fell sharply down too 5s sat or -50%
-Please don't try to catch a falling knife
-This is a strong sell and no buyers are interested
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💎Technical Analysis Summary💎
-POE is back at its previous swing low point last May 2020
-Is this a good buying opportunity now?
-Technically speaking yes, but can we see any sign of strength?
-If there is no signal pressure from the Bulls
-Buying at swing key point is still a high risk
-Given the fact, BTC Dominance is still strong against the...
-a bullish breakout of trendline resistance
-this is a strong potential of a trend reversal
-if this is the temporary daily top
-we might see a pullback correction between 17-15
-only if there is a reversal sign during pullback
-that's the best entry to open a buy order
-mid term target is up to 41s
-bullish divergence on the RSI
-bullish descending channel on the daily chart
-if POE can hold 13-14 sats for the next few days
-we could expect a potential upside breakout
-take profit area is up to 20-25 sats
-stoploss is below 12 sats
POE is painting a bullish divergence inside this descending channel which by technical has a higher chance of breaking to the upside.
If we see a short rally, the initial target is up to 20 sats area and our stop-loss is below 12 sats.
We are doing Analysis of POEBTC on 1 Day Timeframe.
I have Mention Support and resistance levels on Chart
Note: This is only for Educational Purpose this is not an Investment advice.
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I like to buy on these accumulation zone set-ups when the market is 'somewhat' stable because we can see explosive moves out of the buy zones.
When the market is in price discovery, these zones can get melted like a hot knife through butter. Always understand the context of the market before making a trade.
Double Bottom on price action.
Buy Price: Yellow Line
TP: Green Lines
Moon: White Line
Support: Blue Line
SL: Red Line
Invest Suggestion: 5-10 Percent
Profit Expectations: 5, 10 or >20 Percent
Just hold and watch. Sell when you get some profit. Good Luck!
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I hope you are all doing fine. You guys are looking at daily chart of POE on Binance. Yesterday, POE broke out the bull pennant it has been in for the last week or so. However, due to BTC correction, it has come down and could not go any further. The good news is that the yellow line now works as support and let's see if it hold it. Please bear in...
Looks like Po.et is in the middle of wave 5 of primary wave 3.
I'm inclined towards this count because the wave 4 area didn't dip into the wave 1 territory, and wave 3 hit very clearly the 1.618 ratio from wave 3-1.
At this junction, I think we can expect Po.et to rise as high as 0.00011297 since that would be a clear landing spot after wave 3-1 hit the 1.618....
Okay so we're all ready for POE to take off but let's look at what's happening. We saw some consolidation after the announcement of Poet's new CEO, and I think we're moving towards another bull run which should put us in the 12,000 - 14,000 range. If you weren't following POE before, look at the history of the MACD. I think we're going to see another bounce.