Crypto Analysis | Koin Breakout Update

Good day Hiveians!

Join me in analyzing the crypto markets!

 

Just 4 days ago I anticiapted a lager movement for KOIN

Yesterday this happened with a fairly large pump upwards. I think we are now set for more consolidation before moving even higher. Let's have a look at the charts. In the last post I made this chart:

You can go back to the post to see a better explanation of the details seen here. But essentially I was expecting a breakout out of the falling wedge. However, as you can see this movement was not expected to be going past ~45 cents. This is exactly what we saw yesterday:

It's always nice to see one's own predictions get confirmed. As you can see in the first chart, I am expecting this breakout to be going back to around 35 cents before moving higher once more. This could very well take several weeks to play out. If so, the movement back down has to make a higher low for this greater scenario to transpire. We can draw a trend line in the weekly chart (here in turquoise) for a possible area of retesting.

All in all, more sonsolidation until perhaps early May when with the release of the dapps price should move higher and breach the macro resistance (black line). Price would then retest the daily and weekly resistances before moving higher still (if momentum keeps going):

 

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As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!

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