Following a 70% correction and oversold condition (on 1-day chart - not shown here), the above 4-day chart suggests a reversal is now imminent. Some facts of the chart:
1) Bullish divergence between price action and the oscillators - bullish.
2) Point (1) together with increasing volume - very bullish.
3) Past price action resistance is now tested as...
One of the Palm beach 5 coins to 5 million, so be careful, open to false pumping no doubt. Nonetheless we have a breakout out of a falling wedge pattern following an oversold period. In addition the project appears to be making some progress to VISA card deployment, in what seems to be becoming a tightly fought for space.
Weekly chart looks good - first target...
We just looked at Loki (LOKIBTC) on KuCoin.
When noticing the daily timeframe chart for the above pair, we have something similar to Crypterium (CRPTBTC ).
Looks like prices will also move above MA200 (0.00004535) here, now that the wedge is broken.
We also have really high volume and bullish indicators (MACD and RSI).
Let's take a look at the project...
Local Support has been tested and the quickness of the tests enhances the quality of the Support zone. Buying 30% position here with stoploss below the Local Support.
If price action do not hold the Local Support then we are most likely to see price in Accumulation Zone.
Price breaking below parallet channel and if it reclaims it and breaks...
Previous RSI resistance is now broken. St RSI under 20 for almost a full month with MFI showing divergence with price action following the exit of an oversold region. Furthermore we've now landed on the 0.78 Fibonacci golden ratio.
Can price go lower? Absolutely. Is it probable? Let's have a look. RSI is around 25 on the daily chart. At the line drawn on the 25...