CASPER may be setting up for a 90% plus gain.CSPR has been trapped in a death spiral of decline for quite some time until the Trump Election Pump. It has since consolidated into a wedge pattern. If the price breaks out of this wedge and retests the upper (green) trendline area, the price could appreciate upwards of 90%.
I personally think that CASPER is a trash token, and I would never hold it, as its management team has clearly demonstrated that they are absolutely incompetent and likely corrupt. However, as far as trading is concerned, it could prove to be a decent trade in the short/medium term.
This trade also carries additional risk due to the poor management of the company, and this fact should not be underestimated, whether you hold tokens long term or make a leveraged trade in the short term.
Good luck, and always use a stop loss!
Cspridea
Is this the bottom? CSPRCasper coin is a crypto project pretty popular that i am following (and holding) from months. Weekly chart is pretty boring, but i expect great things in the future. Looking at the short term chart, we can see an awesome break of the main trendline and we could expect a pump following the master BTC. I think there is enough potential to reclaim local highs
PREPARE FOR CARNAGE Using the fib the same way we would do to project potential targets to the up side when no data is there to be read , we can also project targets to the downside.
With this we will still look for the HTF BMS to occur before validating the position.
ICO price for cspr was 0.03c anyone who has bought cspr since listed on exchanges is underwater , will they drive price below ICO? . Time will tell biut again we have to prepare some bids.
Using the retracement levels for a potential reversal followed by a structure shift to the upside we can start to build into the trade.
0.0318-0.0181 is where well look for such event to occur and will be our first entry i dont want to DCA into this.
CSPR Long IdeaCasper Mattress Company has just recently IPO'd and has had a less than ideal kickoff to their share price performance.
However, Casper is filling a niche spot in the market being that they can ship their product directly to your door in a package that is easy to transport around the house until you wish to unravel it in a bedroom.
I think we can all share some memories of our childhoods helping our parents or siblings to try to stuff a twin or double sized mattress up a winding staircase or through a hallway and into a bedroom.
Casper has eased the difficulty and simplified the installation process while also providing a comfortable and very well reviewed product using memory foam technology.
The company has been doing big spending in 2019 towards advertising and expects to see roughly a %20+ growth to their sales moving forward through 2020.
Pre-IPO the company received a $1B valuation in what is roughly a $14B market.
Once some more buyers step in and recent gaps are filled, we may see a run towards higher fib levels and possibly even onto newer highs.
If price starts to slide again and stay below the $10 level, then we may be able to expect some continued selling until a new bottom is discovered.
Thoughts?
Trade your own plan, this is just an idea.