Butterfly Effect
Hi, my fellow crypto friends! Here I am again bringing the power of Technical Analysis to the crypto community and like everyone, waiting for better times to make a profit.
Since today I will make my analyses in two official languages (English and Portuguese). I decided to do this way to increase the reach of my posts.
It is no secret to anyone that I am Brazilian and due to the request of several friends I made that decision.
So without further ado, let's talk about what matters.
Polymath is one of the most activities tokens in the crypto space. They do lots of partners, everyday meetings/speeches about how they are creating the better security token to the community and improving the code. Last week they created the MintHealth security token ( The first Healthcare security in partnership with MintHealth¹ ), a partnership with Pegasus Fintech.inc² and so on. They're very active.
However, the market is struggling, so we can't expect fast and huge changes in the volumes by now, we can expect small changes since the market is gaining traction. Anyway, the crypto market is very emotional and anything can happen overnight.
With that in mind, we can take the charts in perspective now:
If we take a look in the 4H chart it's easy to see a Gartley pattern ( in BLUE )and using Fibonacci extension we could expect a retracement until 0.00113828 (ORANGE line) the resistance between both triangles. The 20 EMA( in BLUE ) is leading the run again and if the market remains that way, have no reason to discredit a consolidation and reversal trend.
It's not a short trade, we can expect it maybe to the end of August.
My guesses and suggestions: The ideal would be to wait for a new uptrend channel and buy when it is in the dip.
For DayTraders who like to play in the hard mode, we can see in the 15 Minute chart a balance in the volume of transactions but all the altcoin market still slow nowadays which does not mean you can't make some profit. The chart shows little ups and downs of 7% on average.
In all these circumstances, you should always be nimble to not lose the point. Always update your stops, set a profit and when it happens don't be greedy and get out.
Always remember my fellow friends, I'm like everyone here who is trying to improve my views on charts and patterns, never take this as a financial advisor because you are on your own.
If you liked or have an opinion about this analysis, I'll be happy to read it.
¹ - minthealth.io/
² - pegasusfintech.com/
BITTREX:POLYETH
Since today I will make my analyses in two official languages (English and Portuguese). I decided to do this way to increase the reach of my posts.
It is no secret to anyone that I am Brazilian and due to the request of several friends I made that decision.
So without further ado, let's talk about what matters.
Polymath is one of the most activities tokens in the crypto space. They do lots of partners, everyday meetings/speeches about how they are creating the better security token to the community and improving the code. Last week they created the MintHealth security token ( The first Healthcare security in partnership with MintHealth¹ ), a partnership with Pegasus Fintech.inc² and so on. They're very active.
However, the market is struggling, so we can't expect fast and huge changes in the volumes by now, we can expect small changes since the market is gaining traction. Anyway, the crypto market is very emotional and anything can happen overnight.
With that in mind, we can take the charts in perspective now:
If we take a look in the 4H chart it's easy to see a Gartley pattern ( in BLUE )and using Fibonacci extension we could expect a retracement until 0.00113828 (ORANGE line) the resistance between both triangles. The 20 EMA( in BLUE ) is leading the run again and if the market remains that way, have no reason to discredit a consolidation and reversal trend.
It's not a short trade, we can expect it maybe to the end of August.
My guesses and suggestions: The ideal would be to wait for a new uptrend channel and buy when it is in the dip.
For DayTraders who like to play in the hard mode, we can see in the 15 Minute chart a balance in the volume of transactions but all the altcoin market still slow nowadays which does not mean you can't make some profit. The chart shows little ups and downs of 7% on average.
In all these circumstances, you should always be nimble to not lose the point. Always update your stops, set a profit and when it happens don't be greedy and get out.
Always remember my fellow friends, I'm like everyone here who is trying to improve my views on charts and patterns, never take this as a financial advisor because you are on your own.
If you liked or have an opinion about this analysis, I'll be happy to read it.
¹ - minthealth.io/
² - pegasusfintech.com/
BITTREX:POLYETH
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