Throughout its lifetime MaidSafeCoin has been seen to have one of the most solid structures among the altcoins; MAID is now approaching the all time low, where it should find a level of solid support. Going into the spring we are expecting the cycle to start again with a rush of buyers flooding the market in the coming months after a period of serious correction. With this in mind I have been looking at a potential bullish bat formation in a similar area to the all time low.
As with all bat patterns I am looking for not only the PRZ to be tested, but for candle sticks to tell me where the market is going. A break in the bearish trendline would also be beneficial.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
As always, use the ratios above to draw up your harmonic , and keep the risk at a 1:2 minimum. In this example I am using 1:3 as we have more returns, but with price still below previous support.
Good luck everyone!
As with all bat patterns I am looking for not only the PRZ to be tested, but for candle sticks to tell me where the market is going. A break in the bearish trendline would also be beneficial.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
As always, use the ratios above to draw up your harmonic , and keep the risk at a 1:2 minimum. In this example I am using 1:3 as we have more returns, but with price still below previous support.
Good luck everyone!
Note
Here is my generic overview of MaidSafe's price structure.Note
Price has stalled out just over half way to the PRZ. The wave should continue to decline once the support of the pennant has been broken.
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.
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.