GoChain (GOBTC) is now moving safely above EMA50. It hit EMA100 at 0.00000119 and started to retrace.
This setup looks really good and this pair can produce additional growth.
The next barrier to break is EMA100 (blue line). Above this level, GOBTC can easily move higher and reach the 0.00000141 - 0.00000151 price range.
Below EMA100, GOBTC can either retrace or consolidate before its next move... The bulls are now in control and we expect growth in the weeks to come.
Conditions for change The charts are always changing, every 24 hours a new candlestick is printed and what is bullish today can become something else after the close.
If GOBTC moves and closes below 0.00000099, this pairs bullishness is reduced and it can easily test lower support.
Even if a strong retrace comes, we are likely to see a bounce with good momentum up (second green arrow).
What do you see going forth from today Alan? I see more drop then level out, but wanted to see a post thought on this chart and GO chain price. Thanks in advance
AlanSantana
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@BlockNewsMedia, I see the same as you... More down before it starts to level out.
crypt0whisperer
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Any update to your analysis? Future targets?
Jessejoe
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hi I am a forex trader and would like to know why you choose crypto. do you find it simpler. thanks
AlanSantana
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@Jessejoe, It is just what was available to me. Forex was always hard to approach, crypto came on its own.