Smoke Market Analysis - All Aboard! - 7/15/2019
First pump in a while
We're seeing our first pump in some time, and with volume behind it. The sellers seem exhausted and the buyers are starting to step in! I think we found a price that was unreasonably low and have started to move up from there.
Resistance
We've climbed up into a point of major trend resistance. It'll be interesting to see how price reacts to this level. If we can get past it, we could see a quick and easy push up to 0.22 as there isn't much liquidity leading up there, and that is also the area of previous support.
Books
The books are heavily stacked with buys and it would take some serious selling conviction to drive price down lower. I'm not sure that still exists after the seller exhaustion we've seen. The path of least resistance is to the upside.
Speculation
This is a speculative path if we form a parabolic curve going up from our downtrend. This path would keep price pretty suppressed for the remainder of 2019, and begin to build up in 2020. It's exciting to watch it unfold.
Oh dude you forgot to use the steemleo tag! in case you dont know, steemleo is the front end for investing tags. Your welcome.
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