Head and Shoulders Possibly Forming
I'm a simple guy with simple graphs. This looks like an inverse head and shoulders pattern playing out pretty well. There is no guarantee obviously, we will have to wait and see further on when it moves further along, but it's worth looking at anyways. As with all head and shoulders patterns, we look for a breakout point by large volume, which looks to happen early January of next year. We can see the volume picking up heavily currently, more so in fact than any volume that we have ever seen before. This is a very good sign. If this is truly an inverse H&S pattern, we can expect a local high at around $0.085 near June of this year, followed by a pullback to $0.04 or so, and then again breaking out near January of next year when it hits $0.085 again. After that it's off to the races!
As far as the tech goes, it looks like the dev team is planning on integrating Bitcoin's chain soon, which should bring the price up quite nicely. Also, if you haven't looked at their latest validators and developers building on the network, definitely worth a look. I believe this has graduated from just a project to an actual working technology at this point. I only see the price going up and up from here. It doesn't look like it's slowing down, in fact the technology is growing faster than even I would have actually believed when I first took notice of this project.
Cheers.
As far as the tech goes, it looks like the dev team is planning on integrating Bitcoin's chain soon, which should bring the price up quite nicely. Also, if you haven't looked at their latest validators and developers building on the network, definitely worth a look. I believe this has graduated from just a project to an actual working technology at this point. I only see the price going up and up from here. It doesn't look like it's slowing down, in fact the technology is growing faster than even I would have actually believed when I first took notice of this project.
Cheers.
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.