Musicoin is an exciting platform for musicians, built on Ethash algoritm. Designed to support the creation, distribution and consumption of music where musicians get paid through Pay-Per-Play (PPP) smart contracts.
Today I present the charts, first out is the flashy Superguppy tool. Here you can see how the guppy show the trend changes. No signals given yet, but the price have turned away from the bears.
As the daily chart shows the MUSIC currency have been quite volatile, and many trade opportunities occured.
I have labeled up an Elliot Wave where the target correspond with the last correction at the same fibonacci levels as the ATH in May 2017. Initial target for wave 1 is 600 satoshi, and the full EW target could be as high as 1900 satoshis.
Here is the 1hour chart, and it shows price have been climbimg for about a week, and is now well above the Ichimoku cloud on a rising volume.
The hollow candles are bullish, as they closes higher than its opening. Filled candles close lower.
I have labeled up the yellow circled subwaves in the pink wave 1, and populated the subwaves in there telling we are now on the 3. yellow subwave.
Clearly an interesting chart, and one to follow up, especially since I have an upcoming guitar player in the house having his first public performance tomorrow.
These are just my thoughts, not a trading advice.
If you have another view on the charts your welcome to discuss and post your charts in the comments.
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