I have been hopeful that it would go up for the past few days but it didn't. I've now taken a step back and noticed that it's about time that it should go up.
1. The bullish pinbar from 5th of March resembles the one from 20th of April. The next 2-3 days (from 5th of March) showed a start of a bullrun (+239%). Already since the bottom of 20th of April to now, it has increased by 18%.
2. Looking at the RSI and MACD, it's quite easy to follow the trend. It resembles predictable waves. Looking at the MACD, I suppose there will be a cross there anytime soon.
3. I believe a head and shoulder is currently getting manifested. For the head and shoulder to get completed, the price has to go up one more time.
I don't believe there will be a lot of resistance on the way up, at least to the $10-level.
I try to keep this as simple as possible as I, myself, am pretty new to market trading. If there is anything you'd like to criticize or if you just want me to simplify something, just comment.
This is not financial advice! Do your own DD!
1. The bullish pinbar from 5th of March resembles the one from 20th of April. The next 2-3 days (from 5th of March) showed a start of a bullrun (+239%). Already since the bottom of 20th of April to now, it has increased by 18%.
2. Looking at the RSI and MACD, it's quite easy to follow the trend. It resembles predictable waves. Looking at the MACD, I suppose there will be a cross there anytime soon.
3. I believe a head and shoulder is currently getting manifested. For the head and shoulder to get completed, the price has to go up one more time.
I don't believe there will be a lot of resistance on the way up, at least to the $10-level.
I try to keep this as simple as possible as I, myself, am pretty new to market trading. If there is anything you'd like to criticize or if you just want me to simplify something, just comment.
This is not financial advice! Do your own DD!