REQ BTC BINANCE. Are the whales there?
Taking a look at this coin on the recent few months view... it appears to have hit a bottom and that there are forces seeking to consolidate motion within the Orange trend line channel. Subsequently a recent pump has pushed the total gains since the reversal point (see point A) to near 113%, indicated great performance overall...
However... the recent momentum that follows the green trend line needs to break out of the orange trend line channel before we can see how these gains will hold.
If the movements of the whales are enough to get the smaller level traders keeping that orange channel alive then we potentially can see a pump emerging along the green trend line.
However, if this recent pump fails to produce steady motion along the orange trend channel and we move back to test it's bottom we will see a correction to the bottom of these past few months sideways action.
However... the recent momentum that follows the green trend line needs to break out of the orange trend line channel before we can see how these gains will hold.
If the movements of the whales are enough to get the smaller level traders keeping that orange channel alive then we potentially can see a pump emerging along the green trend line.
However, if this recent pump fails to produce steady motion along the orange trend channel and we move back to test it's bottom we will see a correction to the bottom of these past few months sideways action.
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