EMC2 has been one of the best performing cryptos this year, and despite being locked in a brutal down trend correction for the last 20+ days since it's ATH, appears set to give traders another nice 40%+ pay day.
The crypto has found support on the 0.786 Fib line and just broken above it's closest downtrend resistance line. If this movement holds it has plenty of head room under it's current upper resistance line to revisit the 0.618 level. That down trend line will be tough to break and I don't see it happening on it's first go.
There is also a chance of reversal at the 8000 sat level off a recently broken previous support line so traders will be wise to watch that closely or even set profit target there for around 35% gains.
As always the Alts are highly exposed to movements in BTC which is currently deciding whether to continue it's recent down trend correction at the $14,000 level or rebound. You will be wise to watch for confirmation of BTC's direction before making this trade.
The crypto has found support on the 0.786 Fib line and just broken above it's closest downtrend resistance line. If this movement holds it has plenty of head room under it's current upper resistance line to revisit the 0.618 level. That down trend line will be tough to break and I don't see it happening on it's first go.
There is also a chance of reversal at the 8000 sat level off a recently broken previous support line so traders will be wise to watch that closely or even set profit target there for around 35% gains.
As always the Alts are highly exposed to movements in BTC which is currently deciding whether to continue it's recent down trend correction at the $14,000 level or rebound. You will be wise to watch for confirmation of BTC's direction before making this trade.
Komen:
After trending sideways a little longer than I expected, EMC2 has finally done it's thing. The lower support provided a slightly better entry point so the 40% profit was achieved at 0.0000775. Total of 45% still on the cards from new entry before upper resistance hit.
Komen:
As predicted, EMC2 hit the first 40% target and bounced down from resistence. That resistance is now history and the air is clear for it to rise to the second target at around 140% profit mark. Those that were on the ball will have sold when it first hit and re-bought at 6000 sats support for a second 40% payday.
Happy trading!
Happy trading!