AION 3th generation blockchain - long opportunity
AION describes itself as "The Third Generation Blockchain Network". A multi-tier blockchain system designed to address unsolved questions of scalability, privacy, and interoperability in blockchain networks.
It’s just one of those tickers you have to track in portfolio and increase positions when the chart gives you opportunity. I'm looking at AION/BTC pair on 1H & 4H chart. We can see a bullish pattern forming. Its basically Ascending Broadening Wedge. The wedge pattern differs in that it is generally a longer-term pattern, usually lasting three to six months - in crypto a little less as everything moves faster :). It also has converging trendlines that slant in an either upward or downward direction, which differs from the more uniform trendlines of triangles. Just watch out on break below the lower trendline, otherwise you can trade inside the channel. I'm long on this one, targeting higher resistance level.
It’s just one of those tickers you have to track in portfolio and increase positions when the chart gives you opportunity. I'm looking at AION/BTC pair on 1H & 4H chart. We can see a bullish pattern forming. Its basically Ascending Broadening Wedge. The wedge pattern differs in that it is generally a longer-term pattern, usually lasting three to six months - in crypto a little less as everything moves faster :). It also has converging trendlines that slant in an either upward or downward direction, which differs from the more uniform trendlines of triangles. Just watch out on break below the lower trendline, otherwise you can trade inside the channel. I'm long on this one, targeting higher resistance level.
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Whole cryotocurrency market is in correction, AION failed to stay in channel and has moved below trending support. First consolidation area is around $0.00047 - $0.00049, then $0.00043.