Poet A story of rise and fall

2018年3月16日

I rather enjoyed trading this coin thru it's ups and downs and it produced many great trades along the way. It's movements where made for a technician. Like a dancer, it hit every step. But now Poet has fallen on hard times, almost lifeless and limp no one seems to want to touch it. It's volume is down 90% and it appears ready to push down to lower lows. It's retracements are slow and small, compared to it's drops. Poet is heading back to where it started and from there lets hope it can build a stronger future.

From a technical standpoint it appears to have retraced wave 3 already but may have one last push up toward the 450 area. It appears ready to start it's final chapter in it's decent to the end of wave 5. Wave 3 stopped beyond the 1:1 ext and I would expect wave 5 to go beyond the 1.618 ext at 192. I would say POET bottom should be between the 120-190 levels but may go lower for a short time. From there it should retrace the C wave structure it's currently in an would have some great profit potential with short term targets between 530 and 650 satoshi by spring.

Good luck to all you traders, these are just the ideas i'm basing my trades on and should not be used for your trades. Thanks for taking a look any feedback is welcome.