Throughout its lifetime MaidSafeCoin has been seen to have one of the most solid structures among the altcoins; MAID is now approaching the all time low, where it should find a level of solid support. Going into the spring we are expecting the cycle to start again with a rush of buyers flooding the market in the coming months after a period of serious correction. With this in mind I have been looking at a potential bullish bat formation in a similar area to the all time low.
As with all bat patterns I am looking for not only the PRZ to be tested, but for candle sticks to tell me where the market is going. A break in the bearish trendline would also be beneficial.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
As always, use the ratios above to draw up your harmonic , and keep the risk at a 1:2 minimum. In this example I am using 1:3 as we have more returns, but with price still below previous support.
Good luck everyone!
As with all bat patterns I am looking for not only the PRZ to be tested, but for candle sticks to tell me where the market is going. A break in the bearish trendline would also be beneficial.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
As always, use the ratios above to draw up your harmonic , and keep the risk at a 1:2 minimum. In this example I am using 1:3 as we have more returns, but with price still below previous support.
Good luck everyone!
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Here is my generic overview of MaidSafe's price structure.
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Price has stalled out just over half way to the PRZ. The wave should continue to decline once the support of the pennant has been broken.