Hi, $COVA fans!
Although you may have noticed a lot of FUD in the COVA community; the mid-term chart is looking super bullish. Especially for those who a looking for a good re-entry/add-on point and those of you who are watching COVA closely for a long time; since BTC-Fund-Manager announcement I guess (hehe)
Some arguments:
1) Big bullish triangle with a strong support zone near .1750 and a substantial buy volume.
2) EMA 20 & EMA 50 alignment. Long -term bulls and short term bears are fighting for domination. And it looks like bearish momentum is about to end. We need good news, and Mainnet release on 15th will be just enough. Even though it was postponed earlier, this summer, The mainnet migration is something COVA community is patiently waiting for.
If the COVA team will deliver it this time - it's a no brainer that we may head to new resistance levels!
3) RSI. Historically we are at levels where the price started its upside movement significantly. I market these levels on RSI
Anyway, TA is mostly about the mental image of the market. So if the team will continue to ignore the community and what it has promised, nothing will hold COVA from falling further.
So put your stop losses at .1750 and good luck with your trades!
Although you may have noticed a lot of FUD in the COVA community; the mid-term chart is looking super bullish. Especially for those who a looking for a good re-entry/add-on point and those of you who are watching COVA closely for a long time; since BTC-Fund-Manager announcement I guess (hehe)
Some arguments:
1) Big bullish triangle with a strong support zone near .1750 and a substantial buy volume.
2) EMA 20 & EMA 50 alignment. Long -term bulls and short term bears are fighting for domination. And it looks like bearish momentum is about to end. We need good news, and Mainnet release on 15th will be just enough. Even though it was postponed earlier, this summer, The mainnet migration is something COVA community is patiently waiting for.
If the COVA team will deliver it this time - it's a no brainer that we may head to new resistance levels!
3) RSI. Historically we are at levels where the price started its upside movement significantly. I market these levels on RSI
Anyway, TA is mostly about the mental image of the market. So if the team will continue to ignore the community and what it has promised, nothing will hold COVA from falling further.
So put your stop losses at .1750 and good luck with your trades!
Trade closed: stop reached:
.1750 stop reached. Trade closed.