After a long consolidation POT finally maybe ready to move up. After reaching target 3 of this trade this coin has taken several tumbles due to major market cap declines. I will highlight those points here. Look for this coin to move up and hit its 75% gain target in the next 30 days barring a major BTC jump or another huge Market Decline.
Several large reductions in the Crypto Market Cap have occurred in the last week. They have caused drops in coin prices across the board as well as possibly some market panic and sell offs which have led to even further declines in prices. Market analysis is based on the evaluation of organic movements in the markets not being manipulated by data reporting or possible "whale investors". There are several reasons given for these quick reductions in Billions of USD equivalence from the CMC in multiple publications. This again establishes the volatility of the Crypto space and reminds every one this is a speculative market. I am pointing out the areas of major price drops correlating to the drops in CMC:
#1 1/8 23:47 UTC ($829,667,000,000) to 1/9 14:47 UTC ($702,303,000,000) -14% Market Cap Drop = 200 Satoshi Drop #2 1/10 22:47 UTC ($731,310,000,000) to 1/11 04:47 UTC ($628,386,000,000) -13.5% Market Cap Drop = 210 Sat Drop #3 1/11 16:47 UTC ($711,734,000,000) to 1/12 00:47 UTC ($649,125,000,000) -9% Market Cap Drop = 325 Sat Drop #4 11/15 16:47 UTC (713,329,000,000) to 1/16 01:47 UTC ($641,990,000,000) -11% Market Cap Drop = 200 Sat Drop
As you can see this creates a lot of volatility in the prices of the coins and causes a quick decline in value. Keep this in mind when investing in the Crypto Space. With that said POT is possibly breaking out, there was a bounce I anticipate the same with the price returning to >= 2,300
@vthokiee97, possible cup and handle but not very defined. If the stoch and rsi turn back up look for continued uptrend as POT is nearing the middle Bollinger Band. Alts seem to be pushing up across the board a little today.
Olek2933
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@vthokiee97, I think, that we are really confirming this pattern.