Like so many alts, another Pump-N-Dump picture. Only this one had a Pre-Cursor at Coinbase launch. After the big spike, it has been nothing but decay.
Purple Fib series is taking the first spike as an "impulse". Gold and Blue fib series is the "Golden Fib" of larger spike. We are currently near the 0.618 of BOTH of those Impulses.
See "Related Ideas" below for explanation of my concept/religion.
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Zoomed in with a minor fib level added: would be nice to hold $2.59, which on this timeframe we can see was not easy to surpass.
Not good :( failed at first resistance. Now 2.59 is a MUST hold, break below could get ugly. Guess it comes down to what USA does next, with stocks, gold, crypto......
So the resistance in above snap definitely proved itself. Now bulls really need to hold that gold fib at 2.7894. Strong bounce from that fib could get us to new local highs.
Nice bounce from the Golden fib tradingview.com/chart/kmCh5Ye0/ Now up into that resistance again. We might have enough energy to break and hold this time. But until it happens we can not be sure.
Got past the resistance show in Pic Above, and now back to test from top side Pretty key moment here. A good bounce here would lay a good foundation for uptrend support. Small pierce would be ok, but if it just falls thru it will be bad sign.
@funfunction, I hope so, now what we have wiped out most the spike (and thus late buyers).
We should down the "Faithful" now who will continue to hold and hopefully add to positions...
captain_trips
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thoughtful chart and analysis. there's solid FA on the near horizon. need the team to deliver and we could see some more fireworks. will be watching.
EuroMotif
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@captain_trips, Excellent, thanks for the news.
Admittedly, I dont follow the developments behind coins....
michaelnguyen629
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😃😃😃 i have try my best.
michaelnguyen629
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OoooMiiiiiSeeeeeGggOooooo. Break that $3 Now. 🙏🙏🙏🙏
michaelnguyen629
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Come Onnnn OmesiGoooooooo.
robiarvest
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Yeah man. I was waiting for you to say something about OMG. Finally master Euro unleashed his knowledge. Great chart as always.