Bottom Plays - Golem
For those of us still looking to get in on reversal rallies, Golem coin is a good candidate for the following reasons:
1) There is major support at 0.00009 GNT/BTC
- This price level was a major area of accumulation from April to May 2017 (see brown circle)
- Since the downturn, price has tested and bounced back from this level 2x on July 11 and July 16 (see rectangle)
2) The duration at the bottom
- The more time price settles at a certain level, the stronger this level gets; more shares change hands and are either
accumulated or distributed. Distribution happens at the top, accumulation at the bottom.
- The movement has been sideways for almost two weeks now. When price is sideways, this is a period of no interest. When no one is paying
attention, this is where the real buyers come in.
3) RSI and MACD indicators are bullish
- When price is sideways or going down, but both MACD and RSI point upwards, this is a good sign.
Support is pegged at 0.00009 GNT/BTC. This is a major support area, do not hesitate to cut below this. As for the price targets, it's better to let things run its course first.
Happy Trading
-J
1) There is major support at 0.00009 GNT/BTC
- This price level was a major area of accumulation from April to May 2017 (see brown circle)
- Since the downturn, price has tested and bounced back from this level 2x on July 11 and July 16 (see rectangle)
2) The duration at the bottom
- The more time price settles at a certain level, the stronger this level gets; more shares change hands and are either
accumulated or distributed. Distribution happens at the top, accumulation at the bottom.
- The movement has been sideways for almost two weeks now. When price is sideways, this is a period of no interest. When no one is paying
attention, this is where the real buyers come in.
3) RSI and MACD indicators are bullish
- When price is sideways or going down, but both MACD and RSI point upwards, this is a good sign.
Support is pegged at 0.00009 GNT/BTC. This is a major support area, do not hesitate to cut below this. As for the price targets, it's better to let things run its course first.
Happy Trading
-J
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