Happy New Years everyone! ASCENDING TRIANGLE forming on the daily and getting tighter as we speak. If volume can kick in we should expect another move to the upside. Other than the resistance level we currently are trying to break there really isn't anything until around .0001800-.0002000. Please leave some comments on your opinions. I appreciate it....
FORGET HAMMER TIME its definitely a CHANNEL TIME!!!. We have seemingly responded well in volume and have respected the channel so far. ALTS are pumping and certain ones even doing 3x in the last week or so. Could WAVE be next?? I think as soon as we start pumping even higher more people will fomo in and could very well result in the biggest price action weve...
After Christmas .... bellys are full , wallets are empty and WAVES ( BTC ) are all we have left.... But is that a bad thing? Personally, I think we are gearing up for a real HAPPY NEW YEAR.. Market sentiment has been improving as bitcoin is showing signs of some ( SHORT TERM ) life and that's moving a lot of alts. The chart above shows our current situation...
**** Bullish Bias ****
Looks like the measured move from the previous pump would bring us to around .00019 - .00022 if it were to play out. RSI on the hourly looks bullish but we are struggling to break the 200dma. Historically BITCOIN doesn't perform the best around Christmas so we may see some decent volatility in ALTS in general. Happy trading guys and gals...
Lots of impulsive moves these past few days and it looks like its consolidating nicely to form a Bull pennant .
The bottom usually forms on a .382 fib for strong moves and it seems like we closed above that yesterday so a plus.
Buying now seems to have low risk. BUTTTTTTTTT BITCOIN is the ultimately in charge here so please don't forget to set a stop...
A s ymmetrical triangle has been forming throughout the past two weeks that looks bullish. Even with decreasing volume price is holding and forming higher lows. Hopefully if Bitcoin can behave for a couple more weeks ENJIN might be able to breakout of this pattern to the upside. Remember to always take profit when you can and move your stop losses to break...
