CRO: Act FAST Or Miss This PUMP! (Crypto.com)
com cro has been exploding recently im going to run you down through my technicals and what i think is going to happen next. Clearly, we need some answers. Where are we going to go? Are we going to go higher? Are we going to go lower im going to explain what i think and why i think it in this video so make sure to watch it all the way until the end, of course, smash up that like button and subscribe if youre new and hit that bell Notification icon, so you never miss another post and, with that being said, lets get into the video okay. So crypto.com lets take a look on a weekly time frame. The first thing that i want to show you guys is this rsi indicator. Okay on the rsi indicator, we can see that the last time we got this high on rsi, roughly in the 90s okay, we actually did end up topping out and that was followed by a massive drop on cro now thats, not too worrisome, because we havent just Quite hit that level just yet that is roughly around 91, were currently around 88 and there is no sign of rsi turning down just yet. If we take a look at the fibonacci extension of the previous bull run. Right in here, we can see that we currently are sitting right between the 2.0 fibonacci extension and the 2.618 fibonacci extension. Now something to really be watching for this week is a weekly close above this price right here.
This weekly 2.0 fibonacci extension, because, if were able to close above that, that is roughly around 49 cents lets call it 50 cents because thats a psychological number. If were able to close above 50 cents for this week, then technically speaking, the next target should be the next fibonacci extension level, which is the 2.618, and that price is roughly 62 cents. So if we drop down to a smaller time frame like the four hour time frame, what were going to see is that we just recently pretty much completed an abcd pattern to the upside around 59 cents. A coin you can see thats exactly where we topped out. If you dont know how to use the abcd pattern feel free to check out the free training in the link in description down below. I teach you how to use the abcd pattern, basically its an equivalent move higher in price and it acts as a level of both resistance and support, depending on the scenario. In this case it was resistance. Okay, if we take a look at the rsi. Well also see that we are currently pretty close to that 50 or the midpoint on the rsi. And if you take a look at the history on cro, at least on a four hour time frame, we tend to bounce at that 50 level because we are in an uptrend if you dont know as long as you can maintain above the midpoint on the rsi.
Roughly around 50, then you, technically speaking, are in an uptrend. You can see weve pretty much consistently bounced around that 50 midpoint and were just about to retest that zone right now, so thats actually a bullish sign. Now, if we want to take a look for a specific buying point on cro theres, really no structure to the left, we dont really have much, and so in this scenario, what i personally would be doing is because we have an abcd pattern that just completed these Abcd patterns actually have targets, and one of those targets is the 61.8 fibonacci retracement and if you dont know on a bearish pattern like this bearish abcd pattern, the targets are supposed to act as levels of support. So, knowing that this rsi is nearing its 50 point, the midpoint on that rsi indicator. Okay, knowing that that is currently happening, we can probably estimate that price should, by the time, were down at this 50 level on our side. Price should probably be around this 50 to 61.8 fibonacci retracement from this low here to this high right in here, okay, and so that level right there between the 50 and 61.8 being that it also is a target for the abcd pattern should technically speaking, act as A level of support and because we are still in an uptrend right, we have higher highs and higher lows. We consistently are making higher highs and higher lows. We probably should expect not a lower low as in breaking of these lows, but a lower high, and where is that lower high, most likely to happen probably around this area right here between 48 cents and 46 cents? Now, if we are able to make a higher low in this area here, the next target after that is going to be again that weekly 2.
618 fibonacci extension okay, because we should, if we make a higher low, we should technically speaking, be able to hold above 50 Cents for this week, all right, so if that does happen, then our target is this 2.618 around 62 cents, or you can also take a fibonacci extension from this swing right in here and then we take a look, and we see that we just topped out at This 127 fibonacci extension. That is why we use these fibonacci numbers because they are extremely powerful. A lot of people think that theyre crazy, but we show you every single day on this channel and thats. Why you subscribe? We show you every single day that they are not in fact crazy. The only thing crazy about them is that they actually do work all right, so the next level after this 1.27 is the 1.618, which is all the way up at 65 cents. So our target for cro is going to be roughly between 66 cents and 62 cents right in here and if we just make that red, because its a level of resistance – okay, so that is going to be our target. So something like this. A potential buy in the 48s and the cell in the 62s thats going to be roughly 30 a 30 return on your money for a four hour trade. That is not too shabby. Okay, so be on the lookout for this key level between 48 and 45 ish and be on the lookout for the next target between 65 and 62 ish.
Hopefully we can see this uptrend continue if we dont ill keep. You updated as always, smash up that like button and subscribe if youre new and hit that bell notification icon. So you never miss another post, because i post the latest and greatest cryptocurrency analysis on the internet and also again, if youre interested in joining the measuring markets program and having me teach you everything that i know eight years worth of information summarized in two one hour Sessions every tuesday and thursday just check out the link in the description down below you can also subscribe for free for once in a while free sessions.