Expanse/Bitcoin. Big targets for Q1
Updated
This is an interesting one. An Ethereum fork with better credentials than ETC, especially in terms of the team behind it.
Let's look at the chart.
After a deep bottom, we still see a potential for it to go x10
Expanse got turned away at the 0.236 and needs to find support before it can give it another go.
I expect that support may be the 4h 200 moving average, since the daily 200 still eludes it. We are consolidating just below it at the moment.
However, a break above it, and the 0.236 fib shown here, would mean we will start making our way up through the fib levels.
The first one would be the 0.5 at 0.00098 - which is also very near the psychological border of 0.001 , and a solid tripling of the current price level.
If we manage to break through here, the previous high at 0.00187 will offer some resistance.
My target is the 1.618 fib, at 0.00297 , or a round 0.003
But first, wait for confirmation.
a succesful retest of the 4h 200, and then a break above 0.00052, and preferably a retest of this level as well, with another bounce higher ,
Really, confirmation won't be until we are back above the 0.382 at 0.00078, but if that fails we are already up quite a way from our entry point:
Buying in either on the 4h 200 or on a break above 0.00052, or the trendline for the current move upwards.
First resistance is at 0.00078,
then 0.00098, 0.00187, 0.00297
Let's look at the chart.
After a deep bottom, we still see a potential for it to go x10
Expanse got turned away at the 0.236 and needs to find support before it can give it another go.
I expect that support may be the 4h 200 moving average, since the daily 200 still eludes it. We are consolidating just below it at the moment.
However, a break above it, and the 0.236 fib shown here, would mean we will start making our way up through the fib levels.
The first one would be the 0.5 at 0.00098 - which is also very near the psychological border of 0.001 , and a solid tripling of the current price level.
If we manage to break through here, the previous high at 0.00187 will offer some resistance.
My target is the 1.618 fib, at 0.00297 , or a round 0.003
But first, wait for confirmation.
a succesful retest of the 4h 200, and then a break above 0.00052, and preferably a retest of this level as well, with another bounce higher ,
Really, confirmation won't be until we are back above the 0.382 at 0.00078, but if that fails we are already up quite a way from our entry point:
Buying in either on the 4h 200 or on a break above 0.00052, or the trendline for the current move upwards.
First resistance is at 0.00078,
then 0.00098, 0.00187, 0.00297
Note
We have liftoff.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.