Evident of the coins ever plummeting downtrend is that the RSI’s oscillators have neared 0 indicating a new bottom could be formed on the 4th wave. Breaking through this roof could indicate a bullish uptrend that would also agree with the ichimoku clouds indicators that have shown a high plotted 6 month average. As obvious in the recent bullish downward trend we can see that a morning star is evident. This is also alluded to in the fibonacci retracement level of 62.50 and the 13th parallel has crossed on the MACD.
The price bounced from the support zone 3 and on track to smash one of the downtrend lines. MACD supports a new upward movement on mercury. But we can get a trend reversal signal, only if the price breaks the main downtrend line. We can use pythagorus’s theorem to calculate the breakout for entry in the market and buy above the all time high of the signal candle. As a variant we can use newtons third law to place pending orders above the local swing high and the downtrend line, it's double handstand doji bullish signal hammer level. Stop orders can be placed on the tropic of Capricorn on the 17th wave with profit targets being 3.00 and 20000.00 resistance levels. The continuation of trade volume should be left for long run into 2018.
