MAID/BTC - Price Structure
Updated
Today we have MAID/BTC on the daily chart, a lot of individuals have asked my opinion about this cryptocurrency and I'd like to give you all a brief technical overview.
As you can see during 2015 we experienced a move from 0.00002000 to 0.00029400 within 4-5 months which is around a 1300% increase in price.
Currently, price is respecting the 0.618 retracement level, if we see a break of this level we will see an increase to 0.00029400, thus providing an excellent opportunity to buy!
If we fail to break the 0.618 level we will see a drop back down to the trendline before sky-rocketing, this is where I would enter my position (in a perfect world).
The main purpose of this post is to highlight the key price structure within the market, refer to this chart whether you're going long or short.
If you want more trading inspiration, connect with me below.
As you can see during 2015 we experienced a move from 0.00002000 to 0.00029400 within 4-5 months which is around a 1300% increase in price.
Currently, price is respecting the 0.618 retracement level, if we see a break of this level we will see an increase to 0.00029400, thus providing an excellent opportunity to buy!
If we fail to break the 0.618 level we will see a drop back down to the trendline before sky-rocketing, this is where I would enter my position (in a perfect world).
The main purpose of this post is to highlight the key price structure within the market, refer to this chart whether you're going long or short.
If you want more trading inspiration, connect with me below.
Note
I'm still watching MAID in the run up to the Alpha 2 release, I love that this cryptocurrency always holds a solid price structure.We're currently trading in-between the trendline and 0.618 retracement level.
If all goes well with the release it could bring the much needed attention to MaidSafe.
📈 Master the Art and Science of Trading: sixfigurecapital.com
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