Mobile has been following a descending triangle since April. Normally this is a bearish chart pattern. But it has recently:
1. Broken the trend to the upside
2. Formed a double bottom, and
3. Created a higher low after bouncing off the 50 day SMA.
There is a key resistance to break at 0.001 which is only 8% away. If achieved, the upside potential is large. The next area is around 0.0018 (nearly double where we are today), and the ATH from less than a year ago is 0.0075 (an 8x from today).
A move below the double bottom at 0.00065 would invalidate the theory, so the risk to reward is very good.
1. Broken the trend to the upside
2. Formed a double bottom, and
3. Created a higher low after bouncing off the 50 day SMA.
There is a key resistance to break at 0.001 which is only 8% away. If achieved, the upside potential is large. The next area is around 0.0018 (nearly double where we are today), and the ATH from less than a year ago is 0.0075 (an 8x from today).
A move below the double bottom at 0.00065 would invalidate the theory, so the risk to reward is very good.
Nota
Not sure what impact HIP 138 will have on the price. Either the surge in the 3 days since it is because of that, or maybe just the market preferring certainty?
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.