CRYPTO.COM CRO COIN PRICE PREDICTION – STILL GOOD – TECHNICAL ANALYSIS FOR DECEMBER 2021 FORECAST
Thank you very much for joining me here today. I hope youre having an amazing day were going to take a quick look at crow coin, see whats going on with there and um. We dont really need to look much at bitcoin, except just to kind of see what that pattern looks like. You can see that theres a consistent up and down between 56 and 58 59 000, so its trying to break but has is having trouble, but the more often you test a resistance level, the more likely it is to break. So i think its just a matter of time before bitcoin breaks to the upside, but right now you can see the price is kind of consolidating right around the 50 day, simple moving average and that looks like 56 000 should be consistent in a support. At least it has proven very well in the past, we shouldnt expect to see this leg down anymore thats, just my speculation, i think, were looking mostly bullish for bitcoin on the short term, its not going to be strong bullish, its not going to shoot to the Moon tomorrow, but i think with the next week or two well definitely see 60 000 broken and were in good shape there. Now. The reason why i wanted to mention that is because pro coin is exuding very similar behavior, and we need to identify that also, if youre new to the channel, not a financial advisor. Thank you.
So much for joining me here hope youre, having an amazing day as per usual and just want you to know. I love teaching people how to trade thats my goal thats my passion ive, been trading for over 15 years and i have a trading community designed for that purpose. Check that out in your own time i have limited slots available daily. Just so we can, you know, make sure everyones taken care of, but we do have that as a potential option, if youre interested that being said, lets go ahead and take a look at the one day chart and work our way down. So we know exactly whats going on with grow coin because they obviously had a rise to fame right. It had a very, very strong increase. If you look that we had a state of exhaustion right here at the current support level about 66 cents and the price continued upwards right. So really at this point it makes perfect sense as to why the price is consolidating and now its synonymous with bitcoin, because it rose too fast. A lot of other gaming coins right now are experiencing the same thing, because theyre at an exhaustive state, the coins that are taking off are some of the coins that are much lower in general. That have like you know a lower baseline offen effectively, but really still still good fundamentals. Luna is a good one there, where that was just. It was ready to take off because it wasnt overextended over extended coins right now are not theyre having difficulty re extending.
If you will, because they got, they were out for too long. Hopefully that makes sense, but thats kind of the concept there that the psychology between why croquin is appearing to suffer its really. Not though, if you see how strong and how well its holding right here between 66 and 69 cents, its doing very well considering because most other coins, some of the other ones that are, you know, extremely overextended, like gala, i think it was theyre theyre tapering off Based on the simple fact that they have this over extension right, crow coin overextended, but it has strong fundamentals and its holding in place, so weve probably got a large amount of volume accumulation here as well. If im not mistaken, lets look in the last. What the last two weeks of trading obviously theres a tremendous amount of volume right where the price action is at about 71 cents, so the most amount of volume at 71 cents in the last 10 trading days. Okay, so good stuff. There um now lets, go and take a look at the four hour chart and see whats going on here, and we can see that dude did. It did have a breakout right. It was trying to break out, but bitcoin was also breaking out. Okay, so bitcoin essentially broke out right here, and so did pro coin. In fact, lets see if i can show this to you: theres a breakout from bitcoin same thing from crow coin: crow coin falls down because bitcoin fell down right.
So we need to understand that thats important to know thats, why? I feel that you know crow coin is essentially going to continue to progress upwards in the near future. Just based on the simple fact that bitcoin i speculate will also do so right because again, bitcoins accumulate a lot of volume right at 56 000 and i think thats important thats going to be working as a strong support level, so ultimately thats. The reason why im still bullish on kero coin is because its mimicking bitcoin for the moment, yes, but once it consolidates a little further itll, be in good shape to be able to break that also note here, we did have trouble breaking the the four the four Hour 50 days of moving average for girlfriend im, not super concerned about that, because once that comes down below the price action. Well have that as a support level, soon, um and then lets go ahead and take a look here at td. Sequential were at a six right now, so we shouldnt expect to see much more momentum to the downside because, as you can see last time, i hit a nine. It went right back up, okay, because chromecoin is really good about hitting that state of exhaustion. In this consolidation phase and bouncing back and recovering so if we see just say four more or sorry, three more four hour, candlesticks so 12 more hours, if we see that more and were going to see a reset and itll turn around from there right thats.
Essentially, what im expecting, if that happens, and i dont i dont – expect that thats going to to occur, because i i do feel that bitcoin is going to eventually soon take off. Okay, so looking at the one hour chart lets get quickly quickly, identify this here were basically all bearish in that sense, in other words, the lagging span is lagging behind and we have the price, the baseline above, the conversion line, thats, basically just a thats, a bearish Signal also note 2 here that this price is planning to come right here and hit the price action here in the next just say it looks, like probably id say, 12 to 24 hours and thats a good sign because thats the inverse of taking a position thats When you want to close a short position, so the good news here is that we have an indication on the on the hmo cloud, letting us know that we should sell our short position soon right, so that theres that as well and thats. What leads me to believe were going to see a reversal on a turnaround, because we have very similar behavior on bitcoin but truth be told with all the world events happening right now, bitcoin with like the coventry and all that crap its its its affecting things adversely Right now, so just just know that uh thats, unfortunately that the case – and you know until that kind of smooths out bitcoin – is going to be slightly stunted for the moment.
Okay, um now, ultimately, what else we want to look at here would be – i guess you know better case scenario to me personally. The best case scenario would be for crow coin to be somewhere in the range of i would say, 76 to 80 cents in the next 24 hours i dont think were going to see it just come up and test 83 cents right away. I originally thought that it would back here when it recovered, but then all this crazy world news stuff happened and this whole weeks just been a mess right. So, for the most part, what ive been doing to help you know ensure we dont get stopped out as a community is lowering the stop loss. Of course, we want more wiggle room here, but, furthermore, adding to the positions as they as the price comes down and ensuring that were dollar cost, averaging its an important thing to do, because this does look like its preparing to ramp up again, and i do feel Like its going to get there eventually soon, okay again, i wouldnt expect great things in the next 24 hours, but once we hit that state of exhaustion on td sequential, which should occur in the next 12 hours, we should be able to expect to see the price Continue to progress upwards again, concurrent with bitcoin, so i would just if i were you. I just pay attention to how bitcoins behaving set some alerts of 56 58 000 and maybe consider buying the dips and selling the tops right thats.
Essentially, what a lot of people are doing right now and its a good thing to do im, not bothering with it personally just based on the fact that you know so my signals i i dont want to overwhelm you know and take too many signals, but i Think, eventually, ill probably have some type of scalping um. You know trade signals for that, eventually as like a secondary option for for folks that want it for now. Well, just stick with what we got but im just summarizing here. Pro coin is in good shape. You dont need to you, know, overthink it or worry yes, its frustrating that its not doing what its supposed to or what we feel it should, but its all based on bitcoin and intel crow coin can become independent of bitcoin. Once more were going to continue to see this kind of behavior, but again i speculate based on the 50 days of moving average. On the four hour chart for bitcoin, we will see a recovery to 60 000 plus in the next week or two tops thats. My speculation im preparing for all that im, adding to most of my positions and im, essentially opening a lot of positions for bitcoin ethereum to ensure we can maximize our potential there, especially between you, know, 56 and 60. I think theres great opportunities all right. Well, i hope you found benefit. Of course, sorry to keep rambling on um well go ahead and keep this brief here were going to jump into pro coin again tomorrow.
Well, take another look and well see where we go from there, but i would just say: dollar: cost average is probably the best takeaway here. If you have the opportunity, if not just make sure your stop losses, are far enough away, so you dont get stopped out in case. You know, bitcoin decides to to just do one last dump. Okay, that can definitely happen. Dont expect it to happen, but it could right. You always got to prepare for the worst and hope for the best right all right, thanks again for your time, look forward to seeing the next video have a great rest.