The price touched mid channel resistance on Nov 7th (which was a primary target for previous buy- see related ideas) and established new ATH level. It then entered a corrective phase moving in a flag pattern. If we see a breakout from the flag formation, we can expect more upward pressure and possibly new ATH soon. If the market keeps dumping, we can expect the price to find support in the area of previous highs(green), possibly 200EMA.
The current level is a zone of big support confluence (explained on chart)
// What is confluence zone?
"A confluence zone is a spot where two or more trading signals intersect, resulting in a strong buy/sell signal. When trading, we need to look for a trade with a high probability and low risk." // source: insiderfinance
Entry: (remember to manage your risk properly as BTC just dumped to 40k and the whole market is bleeding)
- buy in the zone of confluence(small amount) -- add more once the price breaks from the local formation
Targets:
* using dynamic mid-channel resistance for primary target (grey dotted)
Static targets:
39.11 (local)
48.01 (local)
58.93 (previous ath)
-- and:
80.25
114.31
148.38
169.43
+top of the channel
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About HNT:
Helium ( HNT ) is a decentralized blockchain-powered network for Internet of Things ( IoT ) devices.
Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes.
Nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT .
Helium’s goal is to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its birth in 2013.
Source: morioh
The current level is a zone of big support confluence (explained on chart)
// What is confluence zone?
"A confluence zone is a spot where two or more trading signals intersect, resulting in a strong buy/sell signal. When trading, we need to look for a trade with a high probability and low risk." // source: insiderfinance
Entry: (remember to manage your risk properly as BTC just dumped to 40k and the whole market is bleeding)
- buy in the zone of confluence(small amount) -- add more once the price breaks from the local formation
Targets:
* using dynamic mid-channel resistance for primary target (grey dotted)
Static targets:
39.11 (local)
48.01 (local)
58.93 (previous ath)
-- and:
80.25
114.31
148.38
169.43
+top of the channel
---------------
About HNT:
Helium ( HNT ) is a decentralized blockchain-powered network for Internet of Things ( IoT ) devices.
Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes.
Nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT .
Helium’s goal is to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its birth in 2013.
Source: morioh
===!! Watch out for this news: !!===
HIP39 has passed: This proposal suggests a redenomination of the conversion rate between bones and HNT. Currently there are 100,000,000 (10^8) bones per HNT and under the proposed redenomination the conversion rate would be adjusted to 100,000 (10^5) bones per HNT.
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In reality it doesn't really change anything, but most likely people will be confused about this whole thing and might panic sell. Or panic buy. I have no idea, just letting you know.