TradeChartist

POLY-BTC painting a CUP with favorable Ichimoku and potential HL

Long
BINANCE:POLYBTC   None
Polymath is an ambitious and a promising blockchain project in the security token space which is building its own blockchain POLYMESH with the help of Charles Hoskinson (Ethereum co-founder and Cardano founder). Poly has been dropping in price against BTC for quite some time and the chart looks quite bullish due to the following reasons.

  • Price just under 20 SMA of 320 sat and a move move will see quick short term gains to 365 which is the daily BUY Trigger as of today.

  • Ichimoku cloud 'KUMO' is getting narrower with a potential move above the cloud which will bring HL confirmation and a potential longer term bullish price movement.

  • Security token space is still at its infancy and has a huge potential. Given Polymath has the first mover advantage with lot of respectable and reputed Partners, the best is yet to come.

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Entry: Below 315
Targets: 365, 425, 633
SL: 290 recommended (Just below 293 Daily LL)
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