L3gOnD

POE Decision to be made

BINANCE:POEBTC   Po.et / Bitcoin
POE             will need to decide which way to break this pennant within the next 20 hours. Also has a decision to make as a KD cross is imminent as well as a bounce off the RSI midpoint. A break to through the top of the pennant and POE             will see a nice third wave run. Leg 1 was retraced nicely to the .500 fib level and leg 3 is looking to remain clouded at the 0.382 fib level opening up an opportunity to break to the 2.618 level around 2100sats if the pennant is broken to the top.
i need to put a sell order , what is the target price in next 2 days ? bought at 1233 Sto
Balas
I agree with this. It took a day or two longer than I expected personally, but I am waiting for it to break the pennant formation. Long hold either way, but hoping to see a good upward trajectory along a similar path for a few weeks.
Balas
L3gOnD netrin
@netrin, For sure. The consolidation isn't occurring with much volume but I suppose the volume will follow open a pennant break!
+1 Balas
netrin L3gOnD
@L3gOnD, That seems to be the trend. Check out the RSI and MACD patterns on the 1 hr chart for the last two waves, with a nice 4 day interval between each. We're possibly coming up on a recurrence of that same pattern today. If we see a breakout in the next few hours, I think we can start setting targets based on the peak-to-peak percentage increase from the last two waves. Not a crazy moonshot, but a strong increase similar to previous events. At least that's what I'm looking for. Long-term hold either way, but I'll probably sell off 25% to diversify since I'm excessively invested in POE right now relative to other coins and want to spread risk--waiting for the up to do that and holding long-term for the other 75%. Disclaimer: total amateur.
Balas
@netrin, I like your idea about selling 25% and hodling the other 75%. I think this is a good project long term but I'll probably sell 50% to further diversify. Maybe I'll get more after the next major dip.
+1 Balas
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