This coin is experimentally you could say but potentially huge if succesfull, it has a solid team behind it, in fact, bright minds of University of Edinburgh, the University of Athens and the University of Connecticut all putting their heads toghetter to find the solution to the problems bitcoin and cryptocurrencies been having to date.
The pattern fits like a charm when that bounce on the right shoulder hits. We could consolidate a bit around these levels and eventually start the first move of the next set . Excellent long term hold!
I kinda wish i traded the 0.95 resistance but as i have high expectations for this coin, i didnt want to take a chance, after all this is crypto and nothing is a certainty lol.
I apologize for for the "crowded chart" but i want to visualize the major channels to show you how i get to my targets.
We are currently in a good entry point, with your risk right below the green ascending trendline, small risk play.
My first sell target would be at 0.95$ from there i see a retest to at least 0.90$ to as low as 0.78$.
This is what i'm looking at:
Anyway, it looks to me that we now reached the level where if the market descides to recover and not drop even deeper like many ppl seem to be hinting at (btc sub 7K to +-5K, it could but i'm in serious doubt) it would bounce on this level for a retest(best case bullish scenario).
If it doesnt break through these levels AND it bounces back but higher then the previous higher low we still follow this course and chances for an even stronger bear become alot smaller, if it does break the red ascending trendline, chances on btc sub 7K become alot greater.
Exciting times really, I just hope you hodled/bought extra and not give into this FUD and panic sold, know what you have and trust in the power of that.
Tight stoploss at 3%, adhere to it!