Adex managed to hold its 0.618 retracement from the breakout pretty nicely. Coiled up a bit to reset momentum and looks like to be trying to make its way above the trend again. It is meeting resistance on the 0.5 which is quite common back up on this extension now however these markets do their best to shake people off; they are true bull rides. High time frame stochrsi looks strong, especially the 3d which is a good sign for the move to come. The next resistance would be likely found in the 26k+ zone which aligns perfectly with the 1.61 extension fib. Fundamentals will most likely support this technical move and volume seems enough to feed many people.
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ADX had an unpredictable news bomb that their product release wont be happening in the short term. Things like this cant be seen. The market does look strong however, old buyzone still remains as shown in the green above if you arent in the trade.
Love your charts man. Reading through your last few ideas, would you say QTUM, ADX or LTC is soonest to go on a run? I have some money tied up in NEO and thinking about pulling it out for the short term to put into one of the coins above.
lygi23
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I think its the BTC not the news. They stated that product MAYBE will be released in October. Maybe.
omeega
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Great analysis, thank you. I spent all morning reading through your charts and you should be in the top authors easily.
Papou
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@omeega, thanks man. yea ive skimmed through a few of the top traders and im pretty baffled how they got there, not trying to hate.
Papou
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@Papou, ive been in the shadows of crypto for a bit, the markets havent been liquid enough or had enough volume for everyone to buy and sell at same prices but we are maturing fast. there has been so many clueless people stepping up lately, its like the blind leading the blind. it just made me feel obligated to start teaching people the real way the market works.