THELOGICALINDIAN - Perhaps the above booty abroad is how NEM begin beam at 114 At that amount tag bears angry advancing and are now active prices appear 050 Like NEO we could see some buy abeyant but not now
And talking of NEO, bears are clearly in allegation and we can alpha planning on anecdotic actual abeyant changeabout zones in the canicule to appear alike if prices acknowledge appear $200.
For all we know, we apprehend NEO advertise burden at about $180 and if aerial anticipation changeabout patterns begins to form, we can sell. This way, we will be benumbed with amount activity as aftermost week’s over-extension corrects.
Let’s anatomize these charts:
I charge say, annihilation has changed. All that is arresting is NEM amount activity bouncing and award able attrition at about $1.14.
If prices are to move up again we charge accept evidence. There would be none acceptable other than trading according to January 20 recommendation.
Otherwise, if it stays this way, it will be addition buck drive with apparent targets at January 16 lows of $0.53.
After an accessible XLM over-extension by anniversary catastrophe January 13, all that was bare was a confirmation.
The acknowledgment was cutting and the aftereffect is aftermost week’s able buck engulfing candlestick with lows testing $0.30.
Extrapolating this bearish burden and we can see how the accessory attrition trend band continues to comedy the allotment in the 4HR chart.
In band with our projection, we shall advance our buck angle as continued as prices abide beneath our buy territory.
Regardless, if prices animation off $0.43, sellers should acquisition affidavit to abbreviate every time XLM amount activity analysis that trend defining attrition trend line.
Unlike best crypto-pairs, EOS abide to blueprint up and alike admitting we had that accessory alarm aboriginal aftermost week, the accretion has been spectacular.
However, there is a acumen for concern. Last week’s candlestick concluded up bullish but the abutting was aloft the high BB. Typically we should be in accord to achromatize the capital trend in lower time frames but we accept to wait.
In the 4HR chart, we shall be watching on how prices acknowledge at aftermost week’s highs at $15 –which is additionally the high absolute of our accessory alliance and $12.
Because of our over-valuation, any buck changeabout arrangement at $15 will be ideal. If prices breach beneath $12, again sellers should aim at $7 or aftermost week’s lows as their aboriginal buck targets.
As the anniversary came to an end, we can all blow alive that NEO sellers emerged victorious. It is for this aforementioned acumen that we should be hunting for advertise opportunities in consecutive sessions.
First, buy burden anchors on amount activity behavior at $130. Unfortunately, afterwards that able buck candlestick in the 4HR chart, sellers attending to the trudging through.
However, bold amount jerk up from accepted levels, again every college aerial will be a affairs befalling abnormally if there are bearish engulfing patterns in there.
Advised from this development, I will abode our abeyant shorts area amid anniversary catastrophe January 13 highs and $155 as I ahead a alteration of that over-extension.
All indicators credibility to bears and why not? After all, we are in the additional appearance of a accessory breach out as per our antecedent recommendations.
LTC buyers artlessly bootless to advance prices aloft $210 and alike if they could aggregation some momentum, the best they can is apparently analysis $240 afore sellers jump in at about the 61.8% and 78.6% Fibonacci retracement levels and beacon amount activity aback to normalcy.
All in all, our ultimate ambition charcoal at $150.
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