I'm seeing a horizontal channel in the short term that bodes well for some volatility
trades at the trend lines
. We have the typical triangle I've been seeing in most alt currencies against btc
. Usually when I've seen this in past investments they have actually ended up trending sideways for another few days which would support the horizontal channel idea. If we do not get back to the lower trend line
of the horizontal channel before breaking the upper end of the triangle we should see a strong push up over the upper channel line. If we get the break out over the channel line on serious volume
we should see an immediate retest of the .00037 range.