Throughout its lifetime MaidSafeCoin has been seen to have one of the most solid structures among the altcoins; MAID is now approaching the all time low, where it should find a level of solid support. Going into the spring we are expecting the cycle to start again with a rush of buyers flooding the market in the coming months after a period of serious correction. With this in mind I have been looking at a potential bullish bat formation in a similar area to the all time low.
As with all bat patterns I am looking for not only the PRZ to be tested, but for candle sticks to tell me where the market is going. A break in the bearish trendline would also be beneficial.
Bat Ratios B = 0.382-0.5 C = 0.382-0.886 D = 1.618-2.618 X to D = 0.886
As always, use the ratios above to draw up your harmonic , and keep the risk at a 1:2 minimum. In this example I am using 1:3 as we have more returns, but with price still below previous support.
Good luck everyone!
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Here is my generic overview of MaidSafe's price structure.
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Price has stalled out just over half way to the PRZ. The wave should continue to decline once the support of the pennant has been broken.
hey kyle. wondering if you been following the news on maid. Its being unlisted from bittrex in march for instance. Still think this'll be a solid buy?
KyleMcQuade
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@ncal, hey! Keeping that in mind, I am re-analysing the pair. Bear in mind that price is hovering around an all time low so we could see price stall out for a while before a new trend occurs. I'll keep you posted!