Short-term trade (LONG)

11 thg 9, 2017

CMF, Stoch RSI and ADX indicators suggest there is a strong bullish action on the market. After a surge yesterday, CVC is developping a pennant on decreasing volume which is an indication of a possible breakout. Conservative buyers should look for the resistance to be broken on high volume with the sell target at 0.000155-0.000165 BTC.

Thoughts are welcome. Please point out any mistakes in my analysis. Have I overlooked something?

11 thg 9, 2017

Ghi chú

To all those still watching this, the pattern hasn't been broken yet. The shape of the flag and the volume do not preclude a possibility of an upwards movement. However, watch out for the previous resistance line (current support) to be broken as it has approached it once already. If broken, I would still watch it but be a lot more skeptical.