Well Hello There…
Here is the Technical Analysis for Cindicator (CND)
Summary :
- CND is forming a “Bowl Formation” (Between 3300 - 2000)
- If 3300 is passed upwards the price may target 4300
- Stop Loss is 1600 (Short Term Moving Average)
- If 3300 is passed upwards sun will rise… If 2000 is passed downwards the above scenario will be aborted.
Detailed Overview:
- CND has been recently added to Binance. Therefore we don’t have the long term moving average (EMA-50) on the graph yet. It is moving in an “upward” trend, above the short term Moving Average (EMA-20). Short Term Moving average is around 1600
CND has already completed the first “bowl formation” (shown in green) and It also passed the formation target (h) upward. The First bowl formation was between 1000 - 60. Once the Resistance Level(1000) is passed. The price targeted minimum “h”(1000-60=940) length which is equal to 1940 (1000+940)
Right now It’s forming the second “bowl formation” between 3300 - 2000. The height of the second bowl formation is 1300 (3300 - 2000) I showed It with S. As long as the price stays above the short Term moving average It will first aim 3300 level. Once 3300 Is passed It will target minimum “S” height. 3300 + 1600 =4900 will be the target.
Stop Loss is 1600 (Short Term Moving Average)
Trend is your best friend :) As long as the price stays above the moving average It represents an “Upward” Trend. As long as the price stays below the moving averages It represents an “Downward” Trend.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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