As its 24hours trading volume increases and surpasses Binance 24hours trading volume, CET token jumped to a new high of 0.153usd on the 4th of July 2018, its price price dives down as a chart pattern has been spotted on the 30mins time frame.
To determine the current price move and possible support and resistance levels the BULLISH GARTLEY PATTERN has spotted and will be used to analyse possible price move.
THE BULLISH GARTLEY PATTERN:
The same rules shoulde be followed always:
XA=Price rises from X to peak at A. This is typically a large upward move to accommodate the retraces that follow.
AB=Price retraces from the peak A to valley B about 61.8% of the XA move.
BC=After bottoming at B, price climbs to C. The BC move retraces 61.8% or 78.6% of the AB drop.
CD=The final leg of the pattern sees price drop from peak C to the valley at D. The CD move is 127% or 161.8% of the BC move.
If price drops below X on the way to finding D, then the pattern should be ignored.
more slight move to the down side 0.103usd(1.272fib extension) which will likely complete the D leg or might go lower to meet the 1.618fib extension
BUY:Once price turns at D at 0.104usd
SELL:Return to its current price and higher to 0.138965usd
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.