Connect with us

Analysis

BOMB is on the move again? Updating Coverage

As you know, I’m long term Bullish on BOMB, and I’m expecting it to be much higher in the long run, today’s HotBit news are just another small step on future BOMB’s History.

Published

on

Note: This is just a quick technical update to my last post (BOMB Token will detonate sooner rather than later…) since BOMB’s technical pattern became a little more clear and some of the references have changed, since theres more price data I’ve also switched to 12h candles:

BOMB/USD Annotated Technical Chart 12h Candles

Since my beginning coverage of BOMB last week, the correction movement continued for a while printing a low of 5.26 which was already close enough to the 4.00/5.00 range suggested on the last coverage as an optimal short term buying zone. On the downside, I’ll continue to annotate the 4.00/5.00 area (since theres still a lot of volatility), but I’m adding an ascending trend line that sits around 6.10 right now as a new reference.

Today, BOMB awakened with a strong up move, and it just breakout the current short term descending pattern, the projection for this Break sits around 10.63, and there’s enough volatility in-play to reach it soon. Also on the upside, the proximity of 14.00 should be seen as the major resistance area to expect any serious selling pressure. I’ve updated my annotations, and breakout targets, right now I’m looking at breakout of 14.00 as the main trigger for new highs with 22.89 as a direct projection (different from my last update).

This up move could’ve been only technically motivated, but there’s also some excelente news behind the move as it was just released on BOMB’s Twitter account: They’ll be listed on HotBit! And why this is important? because they are a big Exchange and they move around $500M daily:

As you know, I’m long term Bullish on BOMB, I’m expecting it to be much higher in the long run, so today’s HotBit news is just another small step for the future of BOMB’s History.

In the long run, and if the popularity of the project keeps up, this could be easily a 100M Market Cap Crypto… or even more… at the end of the day, there’s always less BOMBS…

Can’t wait to own a BOMB? I would suggest the Mercatox Exchange as the easiest way to trade it until it is listed in bigger Exchanges, they have the BOMB/ETH and BOMB/BTC pairs, I would go for the ETH pair. Also, buying and selling inside Mercatox doesn’t “burn” the 1%, that only happens when you transfer between wallets, and that’s a plus compared with DEX.

Strategy:
So my current long term stance on BOMB is Buy and Forget it. For the short term, I’m expecting it to behave accordingly with the annotated values on my chart, buying supports and selling resistances should work ok for anyone trading it actively.

About Coinsonfire.com
Coinsonfireis a new project that will try to provide serious analysis of Coins with Speculative short term Potential but also Long Term value. If you enjoyed this Analysis and want to connect for more, follow us on Twitterand Facebook
Want to support our project? here’s our ETH wallet: 0x1cF3FDC5922AD93A2Bed2efbD7EB7E6F5ac734fc 
(and email us to let us know, we won’t forget our early supporters!)

Continue Reading
Advertisement
Click to comment

Advertising

Advertising

iProtocol Airdrop

Social

Advertising

Twitter

Featured