IGNIS-BTC - Looking for Long Buy Opportunities
I am looking to increase my holdings of IGNIS as a long term hold through 2018/19. $IGNIS is the first child chain of Ardor ($ARDR) which is built on NXT ($NXT) technology. IGNIS is a blockchain-as-a-service which uses child chain concept to solve the problem of scalability. Ardor has a strong community and a good develop base. This could be a dark horse in the smart contracts developer sector.
Technical Analysis:
- Only been trading on Bittrex for a few days and falling ever since. Not helped by the over bearish mood in Crypto.
- The recent bounce on the 30 minute coincides with the mood reversal in crypto. Are we at the bottom?
- I have drawn some key levels in blue which are supported by the volume profile at those levels.
- The point of control (POC) is shown in red. Price will look to return to this level however it first has to get through the 0.00003512 level which also has strong volume.
- Price is back with the EMA 50 but it looks to be acting as a resistance level on the last two bars.
Overall it looks fairly bullish but I will monitor for a while to see how it plays out before putting in buy orders. Likely near-term is price will drop to the 0.00002949 and then recover. This could be a good place to buy if is respects that level.
"Luck is what happens when preparation meets opportunity"
This is not investment advice. #DYOR.
Comments and suggestions always welcome below.
Technical Analysis:
- Only been trading on Bittrex for a few days and falling ever since. Not helped by the over bearish mood in Crypto.
- The recent bounce on the 30 minute coincides with the mood reversal in crypto. Are we at the bottom?
- I have drawn some key levels in blue which are supported by the volume profile at those levels.
- The point of control (POC) is shown in red. Price will look to return to this level however it first has to get through the 0.00003512 level which also has strong volume.
- Price is back with the EMA 50 but it looks to be acting as a resistance level on the last two bars.
Overall it looks fairly bullish but I will monitor for a while to see how it plays out before putting in buy orders. Likely near-term is price will drop to the 0.00002949 and then recover. This could be a good place to buy if is respects that level.
"Luck is what happens when preparation meets opportunity"
This is not investment advice. #DYOR.
Comments and suggestions always welcome below.
Kommentar:
Kommentar:
- IGNIS has been bouncing nicely down this falling wedge pattern. When we have a full candle breakout this will be a buy signal. The current 4HR candle attempted this but is being driven back down and looks like it will close below again. The bounce down was also at the 50 EMA line (green).
- RSI is oversold
- I have added the fib levels from the start of the downtrend to the current bottom. If this is the bottom then these levels will provide some guides for the targets.
Entry:
- When 4HR candle closes above falling wedge and price bounces from the 50 EMA (1HR)
- RSI is oversold
- I have added the fib levels from the start of the downtrend to the current bottom. If this is the bottom then these levels will provide some guides for the targets.
Entry:
- When 4HR candle closes above falling wedge and price bounces from the 50 EMA (1HR)
I have indicated the support and resistance lines on the chart below. I will keep an eye on if/when price starts to challenge this channel....until then expect further downside.
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