AntSchmitt

AntSchmitt

As has been seen several times this year, Reef takes a hammering when BTC's price goes attention seeking. Nearly all of Reef's big pull backs can be attributed to BTC, rather than anything to do with the project itself. Recovery, albeit slow, has always come though. Reef has shown that it can seriously pump too. Happily, buying volume today points in the...

AntSchmitt

Continuing on from previous idea about Fibonacci Channels.... Despite the promising upwards move in price, Reef seems to needs to check its 20MA is still there for it, like a security blanket. The price bounced back down off the 0.236 Fib line, and is possibly about to bounce back up off the 20MA (And 50MA as the price has been sideways long enough). The...

AntSchmitt

Decided to have a look at price using Fibonacci channels. The 4hr time frame here shows a relatively clear picture of price moving in relation to the channels. I feel that the Fib channels better depict areas of resistance than the green box I had drawn on previous charts (and are more useful). This analysis would suggest a price of 0.042 will be the next major...

AntSchmitt Updated 

Reef appears to be in the process of breaking out of the symmetrical triangle, following a possible back test of previous resistance yesterday. Reef's baskets were announced this week which should /could be a positive driver of demand for many in the crypto space. Volume and other indicators look good at the moment. There is still notable resistance ahead - the...

AntSchmitt

Looking again at Reef since it entered the existing rising/symmetrical triangle on Feb 28th. Now with redrawn support line since market correction on 5th April. The previous support line is the dotted red line. Both lines fit well. Since entering the triangle, Reef has been above the 20MA for 25 of the 40 days, performed slightly better than BTC, and is up approx...

AntSchmitt

Reef is moving towards the end of a symmetrical triangle, a breakout should occur soon. Cautiously - positive. A break to the downside could be very unpleasant. Based on the triangle, potential support and price target are at around 0.017 - 0.02. However Reef was in a strong bullish uptrend and had just completed a Fib retracement setting a new ATH in the...

AntSchmitt

Kusama is continuing to test support of the descending triangle pattern formed since March 29th. If price continues to close below the 20MA, support could next be found at the dotted green line, approx $387. However, the triangle indicates that a break of the green base support line could see a price target that exactly meets the 50MA at approx...