Civic / BitcoinLong
CVC/BTC ; bullish cross, big targets for Q1.
In keeping with my new 2018 trading directive of holding on for a month or two in coins that may go x10 , rather than trying to swing in and out of 3% moves all day every day, Here's a look at civic. I do like to look at fundamentals a bit when thinking about longer term holds. Civic has the cards to be a lasting player.
Civic has some huge fibs ahead of it.
It doesn't have a daily 200 yet; too new on bittrex.
What it does have is a 4h 200, and a fresh weekly 20 - which this last spike shot through.
Finally, it has a trend line from where it found support on it's intial launch-dump. Ahh, remember when ICO's arrived at exchanges with fanfare and hype only for them to get dropped by the earliest bonus-token buyers? Anyway, Civic is an early mover in an important field ; identification.
It might have news, adoption, events inspiring price spikes.
It might find support at it's trendline instead of resistance.
Upward spikes like these often get retested more gradually. This event might coincide with the birth of the 200 daily moving average; we've been trading civic since 16-7. That means the 200 daily arrives on February 1, 2018. Mark that date, because it may be the day Civic blasts off.
Blasts off where?
Refer to the fib levels on the chart for targets. The thick green Gann-Fan line should be the absolute maximum it can go. 0.0008 by february first, followed by a drop to at least one of the other targets shown.
Entries?
Right now we are looking at a bullish cross of the 4h 20 over the 50 moving average.
We are currently touching back to the hourly 20 moving average. I would say this is a pullback buy entry, and will trade it accordingly: Buy if it holds. If it doesn't, the hourly 50 or hourly 200 should hold the price up.
If neither of them do, we're wrong and should get out on any bearish cross, or a 4h close below the 200.
First target is a retest of the pink, and when we're in the pink, it will take most of Q1 to reach the target of x3 - x10.
Good luck!
Civic has some huge fibs ahead of it.
It doesn't have a daily 200 yet; too new on bittrex.
What it does have is a 4h 200, and a fresh weekly 20 - which this last spike shot through.
Finally, it has a trend line from where it found support on it's intial launch-dump. Ahh, remember when ICO's arrived at exchanges with fanfare and hype only for them to get dropped by the earliest bonus-token buyers? Anyway, Civic is an early mover in an important field ; identification.
It might have news, adoption, events inspiring price spikes.
It might find support at it's trendline instead of resistance.
Upward spikes like these often get retested more gradually. This event might coincide with the birth of the 200 daily moving average; we've been trading civic since 16-7. That means the 200 daily arrives on February 1, 2018. Mark that date, because it may be the day Civic blasts off.
Blasts off where?
Refer to the fib levels on the chart for targets. The thick green Gann-Fan line should be the absolute maximum it can go. 0.0008 by february first, followed by a drop to at least one of the other targets shown.
Entries?
Right now we are looking at a bullish cross of the 4h 20 over the 50 moving average.
We are currently touching back to the hourly 20 moving average. I would say this is a pullback buy entry, and will trade it accordingly: Buy if it holds. If it doesn't, the hourly 50 or hourly 200 should hold the price up.
If neither of them do, we're wrong and should get out on any bearish cross, or a 4h close below the 200.
First target is a retest of the pink, and when we're in the pink, it will take most of Q1 to reach the target of x3 - x10.
Good luck!
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