Watch out for breakout. Long Long Long!

2017年5月18日

First of all there is a strong support level at $5, please look at the light blue lines. If this support fails the next heavy support is at $4.5 because the pattern at this second support for these few months from 11/2016 to now is EXTREMELY similar to that of 5/2013 to 1/2014.(see the upward channel then two bumps downward then a major upward trend, yes lets long for that upward trend). Second there is divergence shown in CCI and stochastic RSI. CCI remained at the same level and Stochastic RSI had upward slope while price has downward slope. The good new is that there are TWO possible breakouts where the second one at 4.5 will bring in a much bigger uptrend. Even if you fail the first breakout at $5(+your own amount as breakout indicator), the second one is there to recover your losses and some gains. If both supports failed to predict the market please ignore this prediction. I put a strong support at 4.5 because of historical pattern as mentioned above and the price set at center of the most recent and most sparse, one day price GAIN/LOSS as demonstrated by the red triangle. And that was 11/09/2016 when trump won the election. To be fair, half that hype the day after his election is a very conservative bet and support line.