Buy signal was sent out on 2/8. After I exited my position on CAN for a 40% gain, I went in BYFC at 2.24.
No recent resistance levels above this price, and there is a gap to fill at 3.27. Set a sell for 3.2 and let it ride. Exit if the red support line is broken. Risk/reward is favorable here.
Cryptos have been breaking out lately, and WAXP looks to be next.
Looking at the recent series of higher lows following a long period of consolidation makes a strong case for a bullish breakout. Many other cryptos have been exploding to the extreme Fib 261.8 line, so I'm biasing my take-profit down from that in anticipation for that happening.
I'm in at the...
GIven this nicely trending chart here for Canaan, I decided to take a deeper dive into its profit potential.
The best buy-in was around low 5 to high 4s. Our clue to bullish movement was the gap at around 6.10, 6.09 so that had to fill eventually. And, once the short term resistance line from the early January peek was broken on the 4th, we confirmed some more...
We're currently in a symmetrical triangle formation on BTC. This is typically a continuation pattern which implies we will continue our previous trend which is up. However, if the formation fails, it tells us the price target of BTCUSD would be around 2000. If it succeeds, the target is around the mid 14000's.
2000 is such a huge drop that some huge news catalyst...
It's not going anywhere for awhile.
Everyone has been posting the triangle, but they don't tell you the base support line has been shifting over and over again. Recent bearish action broke that support, so it's no longer a triangle. The MACD is likely going to reset back to 0 from all this consolidation. Frankly, that's a great sign that the bulls have propped...
The price action is very similar to the action prior to the explosive run-up.. The play is to buy the break above 712 and not before it. Stay in cash. If there is a hard dip, a clear gap at 377.40 exists on the 5 minute Kraken chart. That's the buy for the dip.
