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Hey guys,

With the #smartcash Steemit community so vibrant, I know how much some of you love trading Smart. So today I wanted to just take a little more structured approach to buying the coin, than just “it’s going to get listed on Binance soon.”

Here are my SmartCash technical analysis thoughts, starting as I always do with a look at the higher time frame chart for levels and then zooming into an intraday chart to find an entry.

Let’s start with a look at the higher time frame, daily chart:

SMART/BTC Daily

After bouncing in what we now know to be a false altcoin rally, the price of SmartCash has fallen back to essentially where it started. This isn’t really unusual price action and is a bit of an accumulation period for bigger players where weak hands are shaken out of the market and sucked up by the strong.

You can see on the daily that price has now sent a wick down into that daily support zone that I have marked on the chart from the last base back in April. This is the zone that we want to see price hold, in order to start to look for longs.

Now that price has touched there, let’s step down into an intraday chart with a look at the hourly:

SMART/BTC Hourly

With this being the first touch down into the higher time frame support zone, we don’t really know if the level will hold yet and therefore don’t want to jump into aggressive longs. But take a look at the way that price reacted when it sent that hourly wick down into the zone.

A nice rejection straight out of it! Just what we want to see in order for the higher time frame support zone to hold, and for us to as a result, be able to look for entries on the intraday chart.

We now wait for an intraday bounce and then look to buy intraday previous resistance turned support. Keep an eye on both my Steemit blog and Twitter account as the setup unfolds.

✌🏻.

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You can take advantage of this higher time frame support level yourself, by clicking here to open an account with HitBTC, my preferred cryptocurrency exchange that trades SmartCash.

To learn more about SmartCash, visit smartcash.cc, @smartcash on Steemit or @scashofficial on Twitter.

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@forexbrokr | Steemit Blog

Market Analyst and Forex Broker.

Twitter: @forexbrokr
Instagram: @forexbrokr

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