MONABTC It's time for history to repeat itself! 1000% gains?I think things are looking extremely bullish for MONABTC.
On the weekly we can see us reaching a long term support line and nicely holding it. On the other side we have a decending resistance line. Combined they form a falling wedge. We're currently breaking out of this wedge that is situated near the all time low. This gives us tons of upside potential and great risk to rewards. Also on the weekly charts you can see what followed after bottoming out in January 2017. Mona made an incredible 60x from the bottom after that.
When we look at oscillators and indicators we can see that
Both Willy and stochastic are oversold
Bullish divergences
And also OBV has been very steady while price kept on falling.
All these things combined tell me that things are looking good for MONABTC.
I'm definitely spreading my buy orders so I can get my hands on some extra when retesting the breakout / decending trendline.
Some targets to keep an eye on are in purple.
What do you think about this? Let me know!
Cheers,
W
