As you know, the cryptocurrency market is very volatile, involuntary wrong analysis leads to a loss of capital. My drawing should only be accepted as a technical analysis idea, it is definitely not investment advice.
My $BNT bag has been very heavy. Bought more on FA than technicals. OBV Volume breaking out, could mean higher prices ahead. $10 to $15 by end of April, $25 by Summer would be my guess. $vbnt burn is live and exchange supply is ATL's. Most $BNT is staked in the platform, roughly 70-75%.
It looks like BNT has completed 5 elliot wave and is about to complete wave 3 retracement, which looks like will align with 1 day MACD crossing the signal line and about to start wave 1 of new elliot wave.
I have just started to study these waves, so let me know what you think ?
Not financial advice.
BNT breaks out of trend line of the descending wedge pattern. Needs volume to confirm but short term goal is 7.8-8.1 target.
It also broke out of descending RSI trend line.
COINBASE:BNTUSD
Attempting to locate the next buy zone for BNT using Elliott Wave Theory. If we take the recent top as the end of wave 5, then the corrective waves (ABC) would put us in the $4 - $5 range at the end of March for a buy zone. Would appreciate any thoughts on my application of EWT to the chart! All comments welcome!
Thanks!
I think Bancor looks super bullish with its chart setup, but Im also leaning on a breakout for Banor because of its continued protocol usage growth, measured by the growing daily generated protocol fees and this is especially true when compared to similar DEXes fees generated to market cap...
also, if ethereum wallet activity is any indicator, the increased...
Fib extension levels
Within a rising broadening wedge
Will likely continue up above .618, currently sitting just below it
I expect it to smash this level
Due to BTC likely headed back to ATH in the next few days. BNT is at a bargain price and likely to see a 20% gain very soon. There are some decent dips out there for bargain hunters right now.
Take advantage and see the correlation many of these alts have to BTC and ETH....very Bullish week thus far. Yes still opportunities for bears but on a macro picture can’t...
