Hi there, I'll make this one quick.
ARK's chart has become incredibly compelling.
1. 4H candle reversal in the clouds (very bullish!)
2. Recent broke a long-term reversal line (price reversal!)
3. Short-term EMA bands have crossed over the long-term EMA bands, and both bands are very, very compressed (very bullish!)
1. We need volume. ARK...
Hello. So let's address the most obvious chart in the world, and that is EOS/BTC. The thesis is almost exactly the same as my prior XLM thesis, which is that we're seeing all the right ingredients for the price of EOS to quadruple.
So let's look at this cup:
1. Starting in July 2017, EOS lost 93% of is value against bitcoin in a slow, steady move that took three...
1. Price is consolidating into a triangle
2. Bollinger band are at its narrowest since Dec 1
3. Candles are hovering around the .5 Fib line.. the stock is begging for a direction
All indicators lead to the conclusion that we will see some major price action, soon.
Which way? Up.
Why? The inverse head and shoulders, a very bullish...
Quick update to my prior chart. After the reversal, the price has shot through my original target of 1900. It has blown through its resistance line, and that resistance line has become the new support level.
QWARK looks really good, primed for a squeeze upwards because:
1. Huge increase in OBV
2. Buying volume has picked up lately
3. Golden cross on short term vs long term EMAs
4. Inverse head and shoulders formed from Dec 23. to Dec 29
If you're looking for confirmation of an IOP trend reversal to the upside, look to start building your position at ~55. Volume appears to be more supportive of an upside move than one to the downside, but I would wait for price confirmation before entering this trade. It could remain dead money for a while.
XLMBTC is close to confirming its reversal from its local dip and appears poised to take its next leg up to around 1900. If the 4-hr candle closes above 1622, we have strong confirmation of the price reversal and upward continuation pattern.
I see a cup and handle that's currently in the works for XLM. Why? Observe the mega run up, followed by a huge retracement on low selling volume. The cup is still forming, but I think the pattern is substantiated by the volume observed at the trough of the cup. Volume has meaningfully picked up. If this pattern persists, the implied upside is almost 4x in the mid term.