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...
. Polymath/Bitcoin is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 43.
. The RSI downtrend is broken, so the probability of the resumption of an uptrend is increased.
. There is a possibility of temporary retracement...
Sold 50% at 0.000126 due to bear div and now re-entering due to strong FA and it's one of the only coins moving currently. Will sell this 50% again on next leg up, aiming for a full retracement in the next 7 days but thats because i've had my daily dose of hopium.
When binance sir?
Bearish div noticed on RSI. Has had good growth the past couple of days and is due a healthy correction before next leg up.
FA- consensus speech at 11AM on Tuesday in New York which could have an effect either way on the price. A lot of hype currently around the coin, could easily have a sell off like OCN did.