CFIETH Accumulation Taking Place - High Risk / Reward
Generally: This is a limited scope fib retracement, supporting the trend-based extension. I will regularly plot these for 6 or more pairs over the next 12 months in order to complete an backward looking analysis on a series on tools (TA and others), used by many in trading/investing in crypto. ETHUSD, BTCUSD, OMGETH, QTUMBTC, QTUM, XLMBTC, SCETH, .....
Four Fib retracements were plotted on trends from 8/9/2017 to 1/4/2018, with all but one in the range of 10/14/2017 to 1/4/2018. Very tight overlap, showing confluence at these levels.
Dotted lines indicate confluence of two or more points identified with above-referenced Fib retracements.
In my view, CFI will die or fly in the short-term. The volume is shit, but let's talk about shit relative to other shit (you know, to be fair). The volume profile limited to the last few months, indicates some interest at these prices. Interest here, relative to interest in this token at a marginally higher price, not to overal market or any other "asset." I will compare this to the CFIBTC pair a bit later to gain a bit more insight into the potential run and what to make of volume in the near-term.
I expect to see upward movement on CFIBTC and CFIETH within 2 weeks. Targets are a blending of the confluence indicated and the Fib extension, but will really be looking at the volume in any run up to make decisions.
Comment, insights, critique are welcomed and appreciated.
Four Fib retracements were plotted on trends from 8/9/2017 to 1/4/2018, with all but one in the range of 10/14/2017 to 1/4/2018. Very tight overlap, showing confluence at these levels.
Dotted lines indicate confluence of two or more points identified with above-referenced Fib retracements.
In my view, CFI will die or fly in the short-term. The volume is shit, but let's talk about shit relative to other shit (you know, to be fair). The volume profile limited to the last few months, indicates some interest at these prices. Interest here, relative to interest in this token at a marginally higher price, not to overal market or any other "asset." I will compare this to the CFIBTC pair a bit later to gain a bit more insight into the potential run and what to make of volume in the near-term.
I expect to see upward movement on CFIBTC and CFIETH within 2 weeks. Targets are a blending of the confluence indicated and the Fib extension, but will really be looking at the volume in any run up to make decisions.
Comment, insights, critique are welcomed and appreciated.
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