Review of Technical Indicators:
RSI – clean break over 50. Sustained support above 50 RSI indicates bullish momentum
MACD – Bullish cross, with expanding volume is a great sign of buyer interest. The moving averages have also been consolidating for the past 3 months.
Moving Averages (MA) – Indicators used: 15,50,100 SMA. Strong price action close (>3%) above daily 100 SMA gives suspicion of a bullish trend reversal. Full Golden cross has already occured on 4hr time frame.
Volume – Expanding volume is a great indicator of market sentiment. This can be seen especially on the recent breakout on 30 August 2018. $DOGE is the top ranking volume with 870BTC ahead of ETH with 470BTC on Poloniex.
The pattern display is a bullish symmetrical triangle that started forming in late 2017.
Target 1 (61% fib): 78 sats
Target 2 (161% FIB): 175 sats
Hint: Profit should be taken on T1 position and place stop loss at 58 sats ( just below 50% fib)
Entries: On support of 48-52 sats, Medium term (3 month holding)