I've been noticing a pretty successful trader utilize this strategy so I decided to try it out for myself. It'll be best you DYOR on the technicalities of it.
Looking at the price action of POND and ZIL, I can personally see a resemblance. This shouldnt lead to a surprise as many tokens bear the same or similar patterns due to their relevance to each other (i.e CAKE & BNB) and also their correlation to bitcoin.
Regardless of what ZIL is showing, POND is currently sitting on some pretty strong resistance that has held for sometime now turned strong support. Price has also broken a trend line and we havent had a retest, therefore Im expecting one. Keep in mind, we are in a bull market so I expect price to eventually make its way up regardless; however the opportunity cost is the other tokens which find the volume before POND.
Check comments for other charts. Inspo: @cryptokaleo
Looking at the price action of POND and ZIL, I can personally see a resemblance. This shouldnt lead to a surprise as many tokens bear the same or similar patterns due to their relevance to each other (i.e CAKE & BNB) and also their correlation to bitcoin.
Regardless of what ZIL is showing, POND is currently sitting on some pretty strong resistance that has held for sometime now turned strong support. Price has also broken a trend line and we havent had a retest, therefore Im expecting one. Keep in mind, we are in a bull market so I expect price to eventually make its way up regardless; however the opportunity cost is the other tokens which find the volume before POND.
Check comments for other charts. Inspo: @cryptokaleo
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These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).