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Floricoin has been consolidating from June up until December when it broke above the strong resistance that was formed at $0.11. Prior to breaking above, FLO/USD rejected the uptrend trendline and the 200 Moving Average and then immediately jumped from $0.085 up to $0.33, gaining almost 300% in just 10 days.
The corrective wave down followed, where Floricoin rejected the $0.11 support and perhaps now its time for the next strong wave up. The first resistance is seen at $0.38 area where 327.2% Fibonacci retracement is located. Break above that resistance should indicate that the uptrend is not over, while a rejection of the resistance could trigger a correction down. Only a break and close below the 200 Moving Average could invalidate bullish outlook.
The corrective wave down followed, where Floricoin rejected the $0.11 support and perhaps now its time for the next strong wave up. The first resistance is seen at $0.38 area where 327.2% Fibonacci retracement is located. Break above that resistance should indicate that the uptrend is not over, while a rejection of the resistance could trigger a correction down. Only a break and close below the 200 Moving Average could invalidate bullish outlook.
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Get ready, its about to start
交易結束：目標達成
why do you think it'll start moving where the arrow begins?
no support, don't see anything.
Just curious, Your TA is always great but I am seeking to learn from you.
no support, don't see anything.
Just curious, Your TA is always great but I am seeking to learn from you.
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@TheCryptoLabs, I do paid education if you are interested, but to explain how I do it here would take me weeks :)
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