For several days now, COVAL faces resistance at the top of the rectangle. All Ichimoku indicators are good and the SMI is pointing up. We should wait confirmation and set our entry after the retracement at 59 (the top of the rectangle). Target: 164 (kijun sen at the same level as the senkou span B on the weekly chart).
Trading is a matter of patience!!
Circuits of Value (COVAL) Overview
The COVAL Platform is being developed with a primary purpose of moving value such as crypto assets using “off-chain” methods. In other words, native crypto assets and tokens from other public and private blockchains enter the COVAL Sidechain Network where they can be flexibly, affordably and securely transacted using trustless...
On the daily time frame we can see 2 bounces that currently hold as support.
The ATR indicator hit a recent low since months in volatility. Which gives room for possible new upwards volatility to enter because of the double support bounce that is holding COVAL currently.
(This is not financial advice, this is a volatile market where anything can happen).
BITTREX:COVALBTC is now just at the bottom.
Resistance trendline is broken here.
Price follow the bottom trendline, which is also works as a Support.
Its all time high is 600 Satoshi( 2017)
Recent high price, 295 Satoshi (Jan 2018)
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Disclaimer: I am not a financial advisor....
We are in a alts bottom's season. I believe COVAL is bottomed, and we can get a good opportunity for short and mid term. RSI is oversold, and we got 3 tests in support line. Maybe we can test the third time the resistance at fibbo 50%. Possible repeat the J movement after the drawed falling wedge.
So, i will try to enter in demand zone, under...
Please note that this type of recommendation is not followed up. Set your target and stop your loss yourself. If the analysis agrees with your idea of view (make sure that the analysis agrees with your idea of view, the analysis is not followed)