Insolar Trade Setup and Buy Opportunities Before Testnet INSBTC
Hello dear friends!
From TA point of view INS showing good buy setup: with bullish descending wedge pattern, developing uptrend and price inside support levels now.
Price now at 0.382 Fibonacci level from previous swing and this is local entry zone.
In meaning of long-term price is consolidating in Ascending triangle, which can be appeared as pattern in bottom of market. In case of breakdown yellow trend-line you can reenter at 0.114 Fibonacci level, where price can rebound and follow up next move with uptrend.
Basic targets are
8624
9600
11000
12000
Long-term target are 17000
Reenter at
5800 and 5400 with previous targets 7000-8000-8625 etc..
RSI showing small bullish divergence.
Speaking of Fundamental analysis there is some interesting facts:
To assume this read: we have good TA setup, nice fundamentals and event on 04 March 2019, which can drive price out of Bullish wedge. Sounds good to me. To control risks here in mid-term trade we can see the opportunities to buy lower or add more in case of bullish breakout from 10000 resistance with a 20-30-70 % profits targets.
Good luck and have fun!
From TA point of view INS showing good buy setup: with bullish descending wedge pattern, developing uptrend and price inside support levels now.
Price now at 0.382 Fibonacci level from previous swing and this is local entry zone.
In meaning of long-term price is consolidating in Ascending triangle, which can be appeared as pattern in bottom of market. In case of breakdown yellow trend-line you can reenter at 0.114 Fibonacci level, where price can rebound and follow up next move with uptrend.
Basic targets are
8624
9600
11000
12000
Long-term target are 17000
Reenter at
5800 and 5400 with previous targets 7000-8000-8625 etc..
RSI showing small bullish divergence.
Speaking of Fundamental analysis there is some interesting facts:
- 1. Insolar is leader in Github crypto commits for past 12 months (you can check from cryptomiso dot com)
- 2. Insolar blockchain platform is able to handle over 19000 transactions per second. This is probably fastest blockchain for business.
- 3. Just in 3 days on 4 March Insolar will launch Testnet 1.1 it will allow external participants to deploy their own node to the network.
To assume this read: we have good TA setup, nice fundamentals and event on 04 March 2019, which can drive price out of Bullish wedge. Sounds good to me. To control risks here in mid-term trade we can see the opportunities to buy lower or add more in case of bullish breakout from 10000 resistance with a 20-30-70 % profits targets.
Good luck and have fun!
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