Here's that jewel that most of us look for, it's still a 50/50 trade in my perspective, there's no clear confirmation but we see a clear decrease of the downtrend force, all the indicators are showing a slow reversion, smaller time frames are used to time the bottom it looks good.
The crucial here is the price staying above 120 for the next hours if so that means that probably that's a good bottom and a good confirmation, judging the enormous upside (+2000% until the last fib level) it is something that i would accumulate if price holds.
Fundamentals are ambiguous, the team failed several times delivering on conferences that's why the constant drops, but the coin/tech itself is good.
It's a technical purchase mostly, people realizing it is just too cheap.
Sell targets are all fib levels, sell at your own taste ;)
The crucial here is the price staying above 120 for the next hours if so that means that probably that's a good bottom and a good confirmation, judging the enormous upside (+2000% until the last fib level) it is something that i would accumulate if price holds.
Fundamentals are ambiguous, the team failed several times delivering on conferences that's why the constant drops, but the coin/tech itself is good.
It's a technical purchase mostly, people realizing it is just too cheap.
Sell targets are all fib levels, sell at your own taste ;)
Note
It's important to notice that this is a very long position, that might take some days and since you are trading against a downtrend the price might drop under 120. So just use your discretion to evaluate if it's too low. I'd say that a price under 115 is a yellow light, 112 red light...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.