- I feel that the predictions market sector will see good gains in 2018.
- REP is a good project with a refocused white paper (https://medium.com/@AugurProject/the-augur-white-paper-a-decentralized-oracle-and-prediction-market-platform-ed8907401c48) released yesterday
- Has strong developer activity and good liquidity (potential upside here) (https://www.coingecko.com/en/coins/augur)
- Low number of coins (11m) with 80% sold during crowd sale.
- Currently over 100% down from All Time High
- Support levels are drawn on the 8 hour chart in dotted red. Thicker lower dotted red shows a very strong support (accumulation level before Christmas and the recent low)
- Box shows are good near-term buy level if price holds here. This would confirm the upward trend (currently 2 touches from the start of the uptrend) and align with one of the previous strong resistance levels on the 1D chart.
- Price is testing the cloud currently and we had a kumo twist turning green indicating a recover is nearby.
- Looking at the it signalled a drop on the 23rd January when we saw a lower high in the oversold zone (indicating bulls loosing control). Previously when this happened dropped to the lower blue horizontal line, prior to that it recovered at the higher blue horizontal line. Which will it recover at this time?
- SL would be below the thicker dotted red line. Target is new All Time High (although I will be holding my accumulated coins for long term).
"Luck is what happens when preparation meets opportunity" Seneca The Younger.
Not investment advice.
Price dropped below the 200 EMA and we had a death cross.
Price currently looks to be respecting the lower support line and we had a potential hammer (bullish) candle earlier today. This could be the bottom but I will be looking for the Price to break above the lower blue resistance and use it as support. I will probably then top up ready for the Alt market run (see Buy Zone).