Modum (MODBTC) is looking really good on Binance. Let me show you a quick analysis... Take a look at the weekly chart above and let's see if you agree with me:
- We have a very strong wave down. A wave up is needed. Either a corrective wave up or a change of trend... But change is needed and being demanded by the chart.
- We have the STOCH on an uptrend since late July and trending up every since.
- MACD bullish crossover (bullish divergence on lower time frames).
- The last weekly candle that closed is an inverted hammer. Support by huge green/bull volume, the biggest volume for MODBTC in a single week since March.
- On Watch list. Needs additional time.
- Looking really good for a long term trade.
- This an analysis for learning and entertainment only. This is no trade advice.
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Namaste.
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Here is the bullish divergence for MODBTC on the daily time frame, marked with purple arrow: