GFIUSD trade ideas
The Final CountdownSink or Swim for Goldfinch. You reached my price target of 8.00 and now youre going to my last and final price target of 7.50. EMA continues to be massive resistance on the hourly. If it fails to hold the bottom of the fib extension I can't give any more projections because we will now be in price discovery for a new all time low. However, I still stand firm that this is the bottom. Can't go much lower then this and the only thing that could crash this coin is if the devs decide to have a massive dump of new coins into the circulating supply.. But honestly they are very transparent on the release window of when new coins will enter circulation.
This is a very good buy zone. Lets wait for the apex. If EMA continues to act as resistance then off to 0.00 lol.
We Have a BottomI'm gonna make a bold prediction and say this is the bottom. Everyone who was going to sell sold. Holding bottom trendline as support and at the bottom of our fib levels is slightly below. Apex of symmetrical triangle ends soon. Re adjusted some things since this coin is still so new and is maturing. We are in a very healthy spot to buy. TP is around 15.00 but dont hold your breath lol. Been going down practically in a straight line for 6 days so a relief rally is long overdue.
GFI Goldfinch, 4-Hour ChartGFI chart ain't looking so hot but at least it appears the price didn't want to go below the Jan. 12th low of around $7.55. I assume there are lots of early backers who are cashing out small portions of their coins just in case?? Whatta I know.
Current total Market Cap = $42M.
Max Supply = 114M.
GOLDFINCH -A great setup on an interesting coin!From goldfinch.finance
"Goldfinch is a decentralized credit protocol for crypto loans without collateral. This is the missing piece that finally unlocks crypto lending for most people in the world. ... Goldfinch expands access to capital in emerging markets where crypto can truly empower financial inclusion."
Now for the technicals, this coin is a new Coinbase listing that seems to have bottomed out. From there we have run up to resistance and we are now at the demand line. This giant descending triangle could explode quite impulsively. You have been warned. NFA, DYOR.
Decision TimeStuff is in the chart. I'll keep you updated once a decision is made.
We reached my last TP of 8.00 last post and I can see this going down to 7.50 for a short term bottom. Time will tell.
Trying not to post too much about this, but not that much data is around since the coin is so new. There's much more room to the upside than the downside currently.
Goldfinch in a PinchWe reached my target price of 8.00 from last post and have had a 5% move to the upside. The EMA ribbon has acted as resistance for some time now, with the top of the descending wedge around 8.96 at this time. Bullish div on RSI. Im going to make a bold prediction and say anyone who was going to sell already sold. I can't imagine it going below 7.50. From a risk to reward point of view this is a good buy opportunity. I'm very impressed with the consistent dumping of this coin, even for new listing standards on Coinbase. Currently has the lowest market cap on Coinbase, it doesn't really get much lower than this. It's been going down in a straight line for the last 5 days. Anyone who bought this is at a loss lol. At this point if it cant get back above 9 and hold it as support I'd say go invest in something that will actually make you money until Goldfinch is done accumulating. Be patient, but don't HODL coins that underperform the market. Goldfinch has a realistic potential to 5x in the future, and I'm not one of those Moonboys that says this about any coin.
Currently at the time of me writing this it is at 8.05 which means there is no real demand for the coin so I can see it easily go to 7.50 at the all time low
Resistance levels are basically the EMA ribbon, top of the wedge, 10.25, 11, and 11.75. Basically this coin has a lot to prove.
Oh Goldfinch...Basically all details are written in the picture. Goldfinch has been dumping the last 4-5 days in basically a straight line down. Extremely low market cap, low circulating supply.. It wouldn't surprise me if we went sub 8 dollars at this rate in the short term. Coin appears dead on arrival, note the word "appears." I believe theres much real world utility with this coin and project, so to see it 2x in the next few months or so to a modest 100 mil market cap is very doable. Until then there is no reason to FOMO in; its best to casually accumulate or wait for a breakout with any type of upwards momentum. I do find it slightly concerning that when the market pumps this coin still dumps. It has what I believe to be the second lowest market cap on Coinbase.. I think we all need to take a step back and let the coin mature a bit since its less then a week old. If it fails to get back above 10 dollars and hold it as support there are always better projects to invest in, but I like the idea behind Goldfinch. If you buy it now I believe theres far more room to the upside then downside currently from a risk to reward standpoint. Good luck!
Last Update for now I swearI'd wait for a break out of resistance line. This coin has basically been going down in a straight line, but I don't see it going much lower then the previous low around 7.50. Coin is still VERY VERY new, but I like the idea and potential behind it. Remember, nothing goes down in a straight line forever. I really don't feel like this is a one and done pump and dump project despite the 4 days of straight down we've seen.
Update on the new coinWe broke the 9.50 support level and are currently holding the 9.00 as both fib and psychological support.
If it breaks 9.00 expect a revisit back to 7 dollars.
Everything on Coinbase is pumping while this continues to dump, so things dont look particularly good in the short term, but overall I'm still bullish on this project.
New CoinCurrently in a descending triangle (Bearish). I'm bullish just because the low market cap and potential, but lets wait and see. Target breakout on the upside is around 13-13.50, the bearish price is around 6.
GOLDFINCH, 4-Hour Chart, GFI (NEW COIN)NEW COIN. GFI.
It has a circulating supply of 5.1 Million GFI coins and a total supply of 114 Million.
Goldfinch is a DeFi protocol that brings crypto loans to the real world.
GFI is an Ethereum token that governs Goldfinch, a decentralized credit protocol for extending business loans without collateral. The token can be used to vote on the future of the protocol and protocol auditors can stake GFI to receive rewards.
goldfinch.finance
"Goldfinch is a decentralized credit protocol for crypto loans without collateral. This is the missing piece that finally unlocks crypto lending for most people in the world."
medium.com
