Descending channel on the 30 min chart. Possible breakout at 130 while charting. If not I believe it will hit 92 before bouncing off of support and then continue up. If volume picks up and holds the breakout at 130 then 155 will be the next wall. If it breaks 155 then 180 is the next hurdle. I'm long on Reddcoin. This idea will develop in the next 12 hours. This is not financial advice just my idea? Comments please?!
Komen:
Small volume increase. Breaking out of the Chanel at 130. Ema 13 back over ema 34 line. Look for some short term sideways action around 150 - 160. If it breaks 160 Then up to 180 for next level of major resistance? Buy at 135 hold to 179 for quick 30% gainer in 24h?
Komen:
Volume not enough to sustain a reversal from the channel breakout. Looks like 92 instead of 179. Ema flipped selling pressure winning. See if it bounces off of 92 or volume reverses it before that.
Komen:
Comments and advice welcome?
Komen:
Bounced up at 98 just before main support line. If we hit 110 in the next 60 min and the EMA lines flip we could head back up to 160 then 180.
Komen:
Low volume and lack of buying support is keeping the EMA flipped. Looks like its still bouncing in the channel. We hit 110 + for a few minutes. We need a couple candles over 110 to validate a breakout again and the EMA to flip back. Ill update with some new targets. Remember this is a 30 minute chart.
Komen:
For those following the chart closely 1 option would be to buy at the support line of the channel on each dip. Then until we have a confirmation of a break out sell on the resistance line of the channel. This is a narrow channel and only offer about 15 satoshi move on each pattern change. Exp buy at around 95 when we hit tis 30 min low and then sell at about 112 when we hit the resistance line on the way up if there is no indication of a breakout.
Komen:
Piercing line last 30 minute candle 9:15 est....this could be setting up for the breakout. Support line is rising possibly with 99 the bottom the last few candles.
Komen:
With a lack of buying volume and the sudden jump in BTC in the last couple hours we have broken our support line at 92 and are headed for our next level of support at 72. Do not panic this is a longterm long coin. If you bought in at the top be prepared to hang in for the long haul. Once this thing breaks out of the descending channel I will establish new targets. I will keep updating this post. The market is a fickle being, patience is key to making money. Just remember you want to buying when others are selling and be cautious about buying in at the top! Again these are my opinions feel free to give me yours!
Komen:
orders for about 200 million coins between 76 and 82 satoshi. The support is lining up and the selling pressure is still around 150 satoshi. Get this thing moving back up and might hit the targets yet.
Komen:
Im updating my chart. I will publish a new one shortly. Hold tight at my first glance this morning I still think this coin is headed back up. Near term resistance is lining up at 150 still. Looking for some buying support at the current price to get this coin going again.
Komen:
With BTC on a small uptrend support exists though low in volume it is lining up at 80 and 75. If one of those lines hold this coin has almost no resistance back to 103.
Komen:
See my updated post for my toughts on RDDBTC
Komen:
Possible bottom on this channel. Let’s see