EMC2 Daily - Bottom found on 200 ma? Birthday 1st of March

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Looks like EMC2 has found bottom on the 200 day moving average - testing bottom and looking for a reversal. Not fully confirmed yet (as per bearish indicators with MACD, RSI, ADX and SAR) but combining fundamentals with technicals could show us a break of this current wedge within the last weeks of February and beginning of May.

Fundamentals:
- Strong announcements coming (Weee platforms and payments)
- New partnerships with ongoing development (Voxtel / Maxeler)
- Algorithm change
- Birthday on 1st of March - possible new breakthrough on an announcement?

Medium term targets on the moving average or fib levels between 4600 and 5600 satoshis. Long term targets if a breakthrough happens up to new all time levels with the beginning of a new wave.

Looking for an entry as the 200 day MA support holds.

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تعليق

Aand remember that this is my own idea of what I am looking, not investment advice - always do your own research!

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تعليق

EMC2 has fallen out of the 200 MA level on the daily chart and looks to be falling out of support for now. Orderbook also looks pretty thin.

Holding with a stop loss at around ~2800 satoshis - we could still easily see a bounce depending on BTC price movement.

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تعليق

EMC2 took longer to develop but has finally broken out the descending wedge. Currently up around 70% from few days ago - facing some resistance here but we could still see a run-up to the 100 MA which would be another 70% up.