I agree about needing a catalyst. Note though that the previous moonshot didn’t occur directly from breaking out of the bull pennant. The price broke out of the bull pennant and started to trend sideways as smart investors were holding in anticipation of the instant payment beta release. Once it was released, the price took off. Today, we are in a similar situation. Most ETN investors would think twice about selling right now for fear of missing the next news catalyst that pushes price back up. The laundry list of ETN advancements, upgrades, and innovations is getting quite long now. I expect the same type of sideways action to take place until something is released.
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Back to the BTC chart. We had a major 3600 support victory on the last candle and closed above it while staying true to the falling wedge. It was looking like we were going to drop hard but the bears were not successful this time. The patterns are still in tact and looking good for some sort of turn around, though it may be small before the next bear attack if the bulls don’t step up their game.
The immediate need is to get back above the descending slope line currently at 3666 to resume the year long falling wedge.
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We had a lot of action right before the end of the last candle to the down side to ensure we would close under key support. All the support patterns are now rekt, at least for the short term. The one saving grace is we are now oversold which should slow the fall a little bit…but I fully expect a fall to the next support at 3440.
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Let’s not forget this.
https://www.ccn.com/cryptocurrency-prices-highly-correlated-to-regulatory-action-central-bank-report/
You’ve had recently the UK announce more restrictions, the G20 announcement about taxing and regulating crypto (it could be interpreted as taxing every transaction on both ends), Homeland security asking for ways to monitor privacy coin transactions and the recent Bitcoin ETF postponement again.
None of that matters to me, I welcome it all. It will only bring in more people in the long run and increase this market like we’ve never seen before. This volatility means nothing…unless you are a person in need of cash and invested more than you should have…if that is the case, then ya…this sucks
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Only selling reason now is that you dont want the coin…
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I know that the rules of technical analysis say that lines should be drawn from solid body candles, but I’m still leaving the idea open that the wicks in this chart are creating a top and bottom to this bull pennant. There sure appears to be a bounce on the bottom line that was formed by the previous two low wicks. This is really one of the tidiest looking bull pennants I’ve seen. It fits almost perfectly within the support and resistance lines.
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Lets see where the daily candle closes to see if we continue to trade within the pennant.
Yes, wicks are iffy at best but can’t be completely discounted. I like the look of it, let’s see how it plays out! We did get a bounce since your post…so there may be something to it
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@Moonman I just drew it out on my own chart and it actually fits even better even extended to the previous moonshot. It’s not even using the wicks all that much and the current candle is turnning green. The RSI and Stoch RSI are primed for lift off. The only thing holding it back is that darn BTC dumping…
The current magic number is 196 sats. If this candle can get above that and close, I applaud your eye for seeing that! We only have about 20ish hours to go? lol
The Kucoin chart is not as defined seeing it had a mind of its’ own through that whole process 
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Here’s the pattern on Kucoin. It’s slightly different, but it is still there and looking promising
I don’t like the blue 50 day EMA curling downward to look at the rising 100 day golden EMA line. Hopefully we can keep that death cross from happening with a turn around in the next 24 hours.
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How are you all doing 
Didnt check in for a while.
Remember this phase wont last forever, and the sun will shine again. Probably brighter than ever.
That being said I’m still looking for long trades only. At the moment I dont really see any trade possibilities we have to see how this 3.4k level will play out.
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Please can someone from you @Cryptoman976 @Moonman @B.F.A create a trading view account. Seems that you are talented and we can be more visible and taken as a serious project. Because till now we havent any 
Good luck to all.
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Once we are listed on one of TradingView’s supported exchanges, I’m sure all of us would be willing to do this. For now, TradingView does not offer any charts for Electroneum.
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I do have a pro membership to tradingview and anxiously await ETN being added to it
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I believe you dont have to be a member to access it as I did not log in to drag up that chart.
Hope that helps anyone.
That chart is current in $ AU
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Kucoin uses tradingview charts as well. The problem is you can’t save them. So if you get logged out or logout yourself, you lose your lines. I am sure Tradingview will add ETN at some point in the near future. The greater community will not be able to ignore it for much longer.
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For sure,
I understand where youre coming from.
Im not looking to trading for another month or so and it wont be ETN.
Theyre all staying safely squirrelled away.!!
Im still in the accumulation phase.
Ive finished buying now for at least another week or two.
Ill be looking into a couple of other solid projects to trade in.
Thanks!
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Amen to that! I have buy orders up at key levels based on what I believe BTC might do. If it comes to fruition, I will hit my second extended accumulation goal. But if I don’t hit it, I’m fine with that too. Big things coming, but per usual it appears we are going to have to wait a couple more months to know what they are from the mobile world congress in Feb. It seems like we get the same messages all the time. Big things coming! Find out in a month or two…then we get there and it gets delayed for anotherm onth or two…then another delay. It’s how business works, I understand. But it is still frustrating…especially after watching the video they released about the “Big things coming soon”…I don’t think “soon” means the same thing to the general public as it does to businesses.
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