Updated
Short Term Expectations on Reef
Facts:
It couldn't stand over $.0029-$.0030 price level.
The volume is still decreasing and stands good for a pump, but the waiting time for a reversal has been increasing.
The current resistance level is around $.0030.
Idea:
1- If you are in it, wait for how it responds to resistance to shape a new idea.
2- If it signals to fall below $.0025, wait to re-enter around $.0015.
Thoughts:
Historically, the coin has pumped before BTC fell. But this time was an exception. It can fake out to break over the falling red line and can not make it.
What if big u-turn:
*The price of Btc does not support.
*Recently, not heard of big news from the project.
*The team has to burn coins to talk about an all-time high; the supply rate has been maximized.
It couldn't stand over $.0029-$.0030 price level.
The volume is still decreasing and stands good for a pump, but the waiting time for a reversal has been increasing.
The current resistance level is around $.0030.
Idea:
1- If you are in it, wait for how it responds to resistance to shape a new idea.
2- If it signals to fall below $.0025, wait to re-enter around $.0015.
Thoughts:
Historically, the coin has pumped before BTC fell. But this time was an exception. It can fake out to break over the falling red line and can not make it.
What if big u-turn:
*The price of Btc does not support.
*Recently, not heard of big news from the project.
*The team has to burn coins to talk about an all-time high; the supply rate has been maximized.
Note
It made a long candlestick to $.0030, and there's a divergence in the 2h and 4h graphs.These look good, but not enough certainty the pump is coming.
Note
It stands good above .0022, there might be a dump to .00212. But I expect at least 'a correction' soon, the last couple of weeks have been bloody compare to most of the cryptos in the market.
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