Hemp coin (THC) profile:
- Hard for officially happening on February 23 2018, Masternodes become live. Fork supported by Bittrex. One year hosting for a node on masternodes.pro.
Analysis:
If the timeline plays out:
It took 31 days for THC to reach its peak at arround 0.00005202 BTC which was also the last completed wave (4) before retracment was expected on daily. Duration of actual THC run lasted in total of 15 days. After the 31 day's period a lower high was reached which could be represented already as first correctional wave.
Right now we are sitting at a bottom line/channel of an uptrend which was also reached in 31 days (today)- health correction dones? If I compare the previous run which lasted 31 days and how much there is still left to fork its a bit shorter period. However taking into consideration that the actual run started and lasted 15 days, THC still has some time for correction or accumulation period before 15 day mark will be reached represented with orange area (from time of published TA - 4 days).
Trend:
Currently THC has been moving inside the downtrend (doted line) pennant and is currently sitting just above the bottom of uptrend channel and bottom of pennant. It looks like, it has also found support at 61.80% fib. level from the previous bull run which is termed to be optimal healthy pull-back in crypto - Thanks to BTC moment in past days.
TA indicators:
T3-CCI has started to curve up and will soon be transitioning towards 0.. If we get a cross at the right moment (somewhere arround green arrow) we could see a positive boost in order for THC to break downtrend and reverse it.
CM-RSI-EMA has been also traveling towards bottom of the channel which should start to curve up in next few days to have another support for trend reversal (especially if line crosses the red doted line significantly.
MACD not in the most optimal position at the moment since it has crossed the 0 mark for the first time after the bull run. Watch for bullish divergence where lower lows on MACD will be accompanied with higher lows on the price action graph/candles. Has to be noted that current state on daily chart might not be sufficient to see that soon enough so check the 4h chart.
Looking into the future:
If we have successful bounce from the up trend channel bottom we could see a nice reversal and start of the next cycle for THC. If that does not hold due to significant insecurity into BTCUSD market, we could see still some pull-back down to middle off the channel (blue arrow) or even down to 78.60% fib level (least likely).
Targets:
I have plotted already FIB levels on pull back in order to establish certain price goals for this trade if we have previous mentioned first bounce and successful trend reversal from 61.80% fib on bull run.
1st target (safe)- 61.80% fib level @ est.0.00004022): representing est. 94% gain from entry level.
2nd target (medium safe)- to current high for THC at 0.00005200 -ish zone: representing 149.82% from entry level.
3rd target (optimal)- 127.20% fib level on pull back @ est. 0.00006046 - If we push through 2nd target we could see 191.55% gain
4rd target (achievable) - 161.80% fib level @ 0.00007117 - Possible gains of 240 % which would be in similar length as previous bull run spike lasted 15 days.
5th target (Bob Marley zone) - range from 0.000075 and 0.00008 representing 276.05% gains
As always happy trading and best of luck in this interesting environment. If you guys have any opinions or disagreements I am happy to discuss.
Best regards
Animus The Great
- Hard for officially happening on February 23 2018, Masternodes become live. Fork supported by Bittrex. One year hosting for a node on masternodes.pro.
Analysis:
If the timeline plays out:
It took 31 days for THC to reach its peak at arround 0.00005202 BTC which was also the last completed wave (4) before retracment was expected on daily. Duration of actual THC run lasted in total of 15 days. After the 31 day's period a lower high was reached which could be represented already as first correctional wave.
Right now we are sitting at a bottom line/channel of an uptrend which was also reached in 31 days (today)- health correction dones? If I compare the previous run which lasted 31 days and how much there is still left to fork its a bit shorter period. However taking into consideration that the actual run started and lasted 15 days, THC still has some time for correction or accumulation period before 15 day mark will be reached represented with orange area (from time of published TA - 4 days).
Trend:
Currently THC has been moving inside the downtrend (doted line) pennant and is currently sitting just above the bottom of uptrend channel and bottom of pennant. It looks like, it has also found support at 61.80% fib. level from the previous bull run which is termed to be optimal healthy pull-back in crypto - Thanks to BTC moment in past days.
TA indicators:
T3-CCI has started to curve up and will soon be transitioning towards 0.. If we get a cross at the right moment (somewhere arround green arrow) we could see a positive boost in order for THC to break downtrend and reverse it.
CM-RSI-EMA has been also traveling towards bottom of the channel which should start to curve up in next few days to have another support for trend reversal (especially if line crosses the red doted line significantly.
MACD not in the most optimal position at the moment since it has crossed the 0 mark for the first time after the bull run. Watch for bullish divergence where lower lows on MACD will be accompanied with higher lows on the price action graph/candles. Has to be noted that current state on daily chart might not be sufficient to see that soon enough so check the 4h chart.
Looking into the future:
If we have successful bounce from the up trend channel bottom we could see a nice reversal and start of the next cycle for THC. If that does not hold due to significant insecurity into BTCUSD market, we could see still some pull-back down to middle off the channel (blue arrow) or even down to 78.60% fib level (least likely).
Targets:
I have plotted already FIB levels on pull back in order to establish certain price goals for this trade if we have previous mentioned first bounce and successful trend reversal from 61.80% fib on bull run.
1st target (safe)- 61.80% fib level @ est.0.00004022): representing est. 94% gain from entry level.
2nd target (medium safe)- to current high for THC at 0.00005200 -ish zone: representing 149.82% from entry level.
3rd target (optimal)- 127.20% fib level on pull back @ est. 0.00006046 - If we push through 2nd target we could see 191.55% gain
4rd target (achievable) - 161.80% fib level @ 0.00007117 - Possible gains of 240 % which would be in similar length as previous bull run spike lasted 15 days.
5th target (Bob Marley zone) - range from 0.000075 and 0.00008 representing 276.05% gains
As always happy trading and best of luck in this interesting environment. If you guys have any opinions or disagreements I am happy to discuss.
Best regards
Animus The Great
Bình luận:
THC possible trend reversal since we entered already the yellow zone
Bình luận:
Needs to make higher low and higher high (arround c) with another higher low and higher high to have possible trend reversal and to be in equilibrium
Đã hủy lệnh:
New chart required...but it looks like it will follow the blue arrow...
Bình luận:
Check related ideas (short term)- Update 0.1 daily time-frame
History:
Previous two spikes without consolidation which happened in a period 18.12.-1.1. lasted 5 - 6 days. I took the length of the last spike therefore as a potential target for THC -1.39% if it starts 6 days before the fork.
TA:
CCI: nicely approaching 0 after 31 days of correction. Cross over could indicate breakout so have that in mind.
RSI_EMA: Going into neutral position at the middle of the channel and getting ready to turn upwards again.
MACD: we have a touch on MACD bellow 0 and I am waiting for a cross and spike up for confirmation.
NOTE: It has to be stressed out also that bearish pennant is forming (blue triangle) so wait for confirmed breakout and volume spike.
Once all the criteria is checked I will add to my position around 0.00002411 with a stop loss placed bellow 0.00001550 zone.
Sell zones:
1. 61.80% fib. level on pull back (high confidence)
2. 78.60% fib. level on pull back (high confidence)
3. 0.00005200 (medium confidence)
4.0127.20% fib. level on pull back (plausible)
5. 0.00007510 (Bob Marley zone)
History:
Previous two spikes without consolidation which happened in a period 18.12.-1.1. lasted 5 - 6 days. I took the length of the last spike therefore as a potential target for THC -1.39% if it starts 6 days before the fork.
TA:
CCI: nicely approaching 0 after 31 days of correction. Cross over could indicate breakout so have that in mind.
RSI_EMA: Going into neutral position at the middle of the channel and getting ready to turn upwards again.
MACD: we have a touch on MACD bellow 0 and I am waiting for a cross and spike up for confirmation.
NOTE: It has to be stressed out also that bearish pennant is forming (blue triangle) so wait for confirmed breakout and volume spike.
Once all the criteria is checked I will add to my position around 0.00002411 with a stop loss placed bellow 0.00001550 zone.
Sell zones:
1. 61.80% fib. level on pull back (high confidence)
2. 78.60% fib. level on pull back (high confidence)
3. 0.00005200 (medium confidence)
4.0127.20% fib. level on pull back (plausible)
5. 0.00007510 (Bob Marley zone)
Once small time frame supports get verified I will place buy orders from 61.80% - 78.60% fib levels.