I wouldn't call it classical technical analysis, except for support and resistance zones, but it look so pretty that I'd like to share it. Valid only in case of BTC bounce.
Buy zone 7500-8000. Targets marked on the chart.
AEONBTC is waking up, it is doing really good numbers on Bittrex, but looking at the long term chart tells us that there is still plenty of room left for growth.
Let's do a quick analysis on this altcoin:
Aeon (AEONBTC) Long Term Analysis by Alan Masters (THANKS!)
AEONBTC price had to retrace all the way back to Nov '16 levels in order to find support.
I keep sticking my head out and it keeps getting chopped off. Will this time be any different? If the weekly candle closes with this bullish hammer it will be the first bullish candlestick setup of 2018, imo. Everything looks wedge-y and just maybe this can be a bottom. Perhaps a quick bounce to 0.0001800 if this is the bottom. Good luck out there.
$AEON was quite hyped among twitter community back then the earliest of this year.
AEON is a coin with specifications below:
PoW algorithm: CryptoNight-Lite
Max supply: ~18.4 million
Block reward: smoothly decreasing
Block time: 240 seconds
Difficulty: retargets at every block
Right now it has 15,831,459 on circulating supply, but not quite volatile and liquid,...
AEON, after showing a good reversal upward trend was in a short term correctional pattern for the previous month. A falling wedge pattern was already constructed and already a break out occurred today. If volume can keep incoming to this market there is a most probable opportunity of a 5 wave elliott wave construction. If it can break the next strong resistance...
I’ve been watching this one on a paper trading account for awhile. Buy now 93Xx short term sell at 1000 or wait till 1200. Could easily see it test the 1400 but I’m holding this guy till we see it pumped to 1800-2000. Not. Advise just my strategy for free!
AEON seems to follow an uptrend breaking out massively and then consolidating back to the support line. @burnonfire31 mentioned that his indicator is showing this is a good buy and I agree as it looks like every time AEON touches the uptrend line it breaks out.
Last couple of days Aeo has been range bound inside the cloud, so next few days we can expect a nice trend.
AEON looking to break thru kumo
Support at 0.786fib level
Price has broken above 20DMA which is providing support now.
RSI bullish & MACD bullish Divergence
Stoch RSI above 50