When doing technical analysis, look for areas of confluence:
1) Horizontal resistance at 543 which coincides with the .786 fib
2) Horizontal resistance that has turned into support at 493, which coincides with the .382 fib
Triangle pattern seems to be forming.. last time this pattern completed NCASH took off!
I would place buys along the blue trend line, if that falls next support would be at 507-508 which is the .5 fib and horizontal support level, more confluence. If that fails to hold, that would signify the end of the short term run. IF that happens then I would place buys all the way down to 493 sats which is the next major support area.
Not financial advice, DYOR as always.
1) Horizontal resistance at 543 which coincides with the .786 fib
2) Horizontal resistance that has turned into support at 493, which coincides with the .382 fib
Triangle pattern seems to be forming.. last time this pattern completed NCASH took off!
I would place buys along the blue trend line, if that falls next support would be at 507-508 which is the .5 fib and horizontal support level, more confluence. If that fails to hold, that would signify the end of the short term run. IF that happens then I would place buys all the way down to 493 sats which is the next major support area.
Not financial advice, DYOR as always.
Commentaire:
Looks like NCASH will try to turn resistance at 543 into support. Lets see if it will hold. If not I expected a retest of the upper trend line.