Smoke Market Analysis - 1/26/2019

5 months ago

It's been a while, what have we missed?

Well since my last analysis we have broken below the bear flag we were looking at and fallen down to make a new all time low against bitshares. We supported around the cross section between where our previous descending trendline and the horizontal support level meet up. We've bounced there and are now finding resistance at the support area of our old bear flag. Pressure continues to mount, and push the price down.

Descending Wedge

We are still pinching down in a descending wedge pattern that if plays out would yield a bounce in price. Despite price falling, I do feel the smoke market is getting healthier with more consistent volume, and a lot more liquidity. Until recently if you wanted to buy a lot of smoke, there just wasn't much available.

Path of lease resistance.

The book orders show us that the path of least resistance is to the upside. We see a lot of liquidity building up in the .47 area and below. The lower we go, the more smoke it takes to push price down, so there is reason to believe we may not go too much lower against Bitshares.

#smoke #market #analysis #technicalanalysis

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Nice one bro but I believe that some the price of smoke will get to the moon.


So your a crypto artist? Youngeric...? Thats cool were can i see some of yor work?

So much insight. Please, recommend where i can learn the basic TA so i can be able to understand this analysis better


I think Tone Vays is kind of ridiculous as a human being, but his Technical Analysis of bitcoin is quite good. He does youtube videos. Decent source. I like Peter Brandt, he's on twitter. It's difficult stuff, just start digging your teeth in and you'll pick it up over time.


Alright, Thanks. I'll check on them

excellent analysis, I think the price will rebound by 0.65 the smoke is a growing child still does not have the right volume in the BTS exchange