ANKR/BTC is looking like a solid buy and is only 10% or so from new ATH, and then into price discovery. Part of the reason I like ANKR is it’s one of the Binance Smart Chain projects with some rather great upside potential. That being said, let’s look at the technical side of things!
· Red dashed line is the major resistance and ATH.
· Solid red line is the trend resistance.
· Solid green line is the trend support.
· The two green dashed lines are weekly support levels. (Well one is a pretty strong support level while the other is disputable.)
· The white line is the potential candlestick path that could take place.
· From the 16th to the 22nd, one could almost argue there is a C&H which was pointed out to me by another member.
· RSI is around 56
Overall what I expect to happen is a continuation of the trend to and up above the red trend line, tapping the red dashed line at ATH and either push through or retest of the dashed yellow support line before heading up with a larger push into price discovery. ANKR is already showing great buyer support in various waves on CS2. People know it’s getting close to taking off as well as it being a BSC coin and Binance will eventually make a large push for its adoption I am sure.
One thing I am not entirely comfortable with is the daily RSI is a bit high for my liking. But so far, RSI for short-term trades looks great. I am not entirely sure what to expect with the RSI if ANKR goes into full price discovery. For those new to charting, the ideal trading range is 30–70, however, oftentimes coins do break above 70 for extended periods of time with bullish momentum or news.
As always DYOR and I am open to discussion.
