GNO/BTC - 4/3/2018

Good Morning, Traders! 

Gnosis has been in a constant bearish trend since the beginning of this year. Looking at the Bollinger Bands, it can be seen that the lines have very recently started to straighten a bit, signaling a possible reversal. In the case of the reversal, the resistance level matched with the 23.6% fib retracement serves as a strong resistance and could result in an end to a short bulls movement.

The RSI indicator states that Gnosis has been oversold since the middle of March and could be seen as an opportunity to buy for some traders and see the price move in the bullish direction.

Long-term the momentum has been small bullish fights with an overall bearish result as it follows the trend line. If the price does not reverse from the support level at 0.00%, it can be predicted to continue following the trend line.


Important Resistance Levels: 0.0091, 0.0098
Important Support levels: 0.0074

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Written by:  
Hammad Fazlani 
Research Analyst
Bitcoin (Cryptocurrency)BTCBTCUSDcryptoCryptocurrencygnoGNOBTCgnosisGNOUSDHarmonic PatternsTechnical IndicatorsTrend Analysis

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Sincerely,
EQBM Team
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