LONG Hempcoin (THC) - Short term trade (1-2 weeks)
Rebranding, new website, whitepaper, partnership announcements and a hardfork coming at the end of the month! Looks good for a swingtrade
Chart looks strong because it held .618 fib which came together with the 100dma on the daily, which is a point where a bulltrend often goes back up after it dipped (see on picture below). With other words: bulls often buy near the 100dma and especially if a uptrend corrected towards the .618 or .786
You should have bought at that point, but it's not to late yet, it may dip a bit before it will go back up.
And oh, don't forget to take profits BEFORE the actual hardfork on January 31th. It's called 'buy the rumour, sell the news' but probably it will dip a few days till a few hours before the actual hardfork.
Chart looks strong because it held .618 fib which came together with the 100dma on the daily, which is a point where a bulltrend often goes back up after it dipped (see on picture below). With other words: bulls often buy near the 100dma and especially if a uptrend corrected towards the .618 or .786
You should have bought at that point, but it's not to late yet, it may dip a bit before it will go back up.
And oh, don't forget to take profits BEFORE the actual hardfork on January 31th. It's called 'buy the rumour, sell the news' but probably it will dip a few days till a few hours before the actual hardfork.
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Forming bullflag just above .382 fib. Still a chance to jump on board!
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Trade closed