Next. With harmony, one guys as we get into this video, if you do find it useful and informative, then do go ahead and hit that like button. I really do appreciate that, if you happen to be new to the channel, then do go ahead and subscribe tap. That bell select all notifications, and in doing so, you will be kept up to date with absolutely everything that we do here at cheeky. Crypto, with this said done out the way lets dive right down into the technical analysis on harmony one and, as we can see, this is just a daily chart were not going to take a look at the weekly. We understand that the structure of the weekly is still looking very good um, but were going to be talking about whats been going on with the daily and the hourly chart. Okay, so um as we can see, we have the performance of wave three and wave four. Okay, so basically the high that we have achieved up here in march and 2021 and down to the lows of june 2021. Okay. So, basically, if we take that into consideration that current performance there – and this allows us to put fibonacci retracement tool on showing that we could see harmony, one pushing up towards 79.7 – okay, that full 4.236 extension – this is something that weve been talking about for a while And shouldnt be um, you know strange by any of our regular viewers.

The other thing that weve been talking about recently is the cup and handle okay. So we do actually have a full cup here: okay and its a big one. So we can see that basically, we have this whole cup, the pull back for the handle, and then they push to the upside okay and this cup and handle has been working quite nicely for harmony so far, and we should continue to see the growth of this. But obviously, with the recent pullback that was occurred in there with bitcoin getting rejected from the 786, we can obviously see that we have had a pullback with many of the altcoins as well and harmony. One is included in this. Of course, it was only two days ago that we set a new all time high, so we should be anticipating some major pullbacks uh same major, but some pull backs to allow us them to continue the growth to the upside overall and im going to go through What that looks like, on the smaller time frames in a moment overall, that cup and handle actually looks like its taking us to about 34, and so, if i actually take uh the right hand, side of our cup just over here down to the bottom of our Cup – and this actually then takes us to 34 cent – okay, but obviously the 1.618 is 33.3 cents. So i think its going to be right in this area. We might wake up to 34 cent and but thats, ultimately, where i do think we are likely to kind of see this cup and handle completely finish out right.

Big cup handle push up to that 1.618. Okay, so 33.3, um to 34 thats the kind of range that were talking about for the month of october and what our kind of expectations are. Obviously we had a good rise up to. I think it was a high of uh 26.6 um just two days ago and uh. We have started to see a bit of a pullback now, and this pullback is uh is perfectly fine, its quite natural, but obviously its come from an unnatural place, as in bitcoins pull back. So therefore, money is rolling out of the market right now, and so what were going to do is were going to just jump over to the avid.io dashboard and were going to talk about the underlying data for harmony. One now harmony, one is an a3 cryptocurrency rating. Overall, so its a pretty good standard, its in that top tier of crypto currencies as per this artificial intelligence and machine learning. So we know its in a pretty good place and when we come down and we check the detail of it – we have an ami had ratio. This is an a2 rating, so the second best rating that divide – i o, can give a cryptocurrency and um basically theres. No problems with liquidity whatsoever, so liquidity is perfectly fine for harmony, one which is actually quite interesting. Considering many of the other altcoins in the space are having a lot of liquidity based problems, harmony, one is not one of the ones that actually has this issue, and actually you can see the liquidity is actually really good for harmony.

One now, when we come across here we have a fear and greed index. This is not just your general bitcoin fear and greed index. This is a harmony, one specific fear and greed index, and this shows you that the sentiment is actually quite negative. Its quite fearful right now, with a c1 rating, its in the lower tier, so we do anticipate that there is going to be some volatility with people more willing to sell harmony, one right now than actually to purchase it. And again, this is powder opposite to where it was a couple days ago. Okay, we decided to pull back down and we can see that that narrative has changed a little bit in the space and we have a bad sentiment in terms of fear for harmony. One and again, a lot of that is driven just from whats, been going on with many of those other altcoins. The the sentiment in the entire crypto space is quite fearful right now, as we come down to a sharp ratio. Here we have an a2 rating right and the sharp ratio is your risk reward ratio. Well, above that 50 day, average um, the avid io dashboard, the ai and ml here – is indicating to us that the rewards outweigh the risks. So you might want to have some exposure to harmony. One now obviously im not a financial advisor chris is not a financial advisor and its before its important that you do your own research, a part of that research might be checking out the link in the description below signing up to provide.

i, o and actually using this Data to your advantage, so i see here that we have a sharp ratio or a risk reward ratio that is in our favor rewards outweigh the risks, and yet we have a fear and greed index thats a c1 showing that theres extreme fear in the space. So when we have these two things side by side, a sharp ratio thats showing that the rewards outweigh the risks and a sentiment thats incredibly fearful. This shows me that i might want to be buying up that fear and actually building a pretty good position of where things are going slightly longer term. So the fear and greed index shows you what the sentiment is feeling right now. What is the next kind of 24 to 48 hours is going to feel like the sharp ratio? Takes you a bit longer period? It helps you understand where you are going and how you are tracking, currently across a longer time period and also allows us to understand the risk reward elements to um. You know investing in cryptocurrency so when we have a risk reward ratio, thats, actually pretty positive and a small short term kind of fear in the space thats a potential opportunity to buy that that fear up at a discounted rate and then obviously ride harmony. One up to that fifth wave: two, all time highs right and again, we can come down here and we can see that the profitability is an a1 um, so no problems with profitability overall and the moving averages are up in a2.

So the only thing thats out of place here is that sentiment that unreasonable amount of fear in the space right now for harmony one. So, overall, all the other pieces of data in the background for harmony are looking very, very good, with the exception of the fear and greed index, where its incredibly fearful for harmony, one right now, all in said all said and done, and this to be basically tells Me that i might want to be buying up some harmony. Okay, so when i come back into our chart here with a big cup and handle good target of 33 to 34, what is actually causing this kind of pullback is obviously bitcoin, but does this uh give us an opportunity to buy up some fear when we jump Down into our hourly here, we can see some opportunities right, so we had this initial area just here. This was an area that we were really looking to try to buy into and before pulling back down now. This is an area that we were wicking into were coming into here. We were able to basically capture this buying point just here and taking us up to the all time high, and then we fell right back down into this bound, okay, um, but obviously pulling back down. We breached uh this support level. The previous area of here of support over here, where we originally pushed on through and we came down to 21 cent support line.

Okay, now we are overbought on our stochastic rsi as we approach the previous all time, high area, and so the expectation here should be rejection, and i do anticipate that theres an opportunity between the 21 cent area and the 18.6 area on the charts. Now, what ill do is ill jump back to our daily and what im gon na do is im gon na show you what i mean okay, because what we have is weve left a bit of a gap behind okay, so it looks like were probably gon na. Have to come back down and fill this void, okay, and so we basically had all these closed bodies here, but theres, nothing in between them right and obviously we have a wick here. So we have a couple of wicks just up here, so im going to just take it above that 786 area and im going to take it down to about here. Okay. So this is my interesting zone that i think we are likely to have to pull into at some point to finish the gap or to close the gap. Now we dont always close these gaps, but its an interesting zone right, no activity inside here, um on the daily right. So it could be that we actually pull back into this zone, and this basically is between 20.4 and 18.8 okay. So we have support wicks here or resistant wicks here and resistant wicks here, so that could be a good support level for us 18.

4 and we have support level just up here at that upper bound at 20.4. Okay and obviously, we have some interesting activity over here. Weve had some wicks in here, helping to close this area down, but inside this area right here, this yellow box, ive, just drawn weve, had no daily activity in terms of wicks coming in or closed positions in these areas. So we should be mindful that, ultimately, we might come into this zone and just to finish and close that gap off coming down to a potential low of 18.8, and it could take several days to get down there right but theres an opportunity in that, because obviously We are talking about moving up and completing that cup and handle up at 33 to 34 7.. So you could basically find a good area to basically dollar cost average, a good position and between 20.4 and 18.4, and then look for it to take that to new all time highs. Of course, we could just come down and rebounce from this area, never actually closing it so coming down bouncing from 20.4 as well, and so were mindful over all of those scenarios. But for me this is an interesting zone. I wanted to kind of communicate with you guys, because we are seeing an unreasonable amount of fear for harmony, one theres out of kilter to the rest of the underlying data. We have good data in terms of sharp ratio and liquidity is looking pretty good.

Profitability is pretty good and theres, no real issues other than that sentiment in that fear, thats unreasonable in the space, and we have the opportunity to potentially buy that up at a discounted rate ahead of where were going so theres an opportunity here. I do feel between 20.4 and 18.4 overall and as we come back into our hourly chart, and we can really see exactly what that looks like okay. So we have some hours here, as were pushing on through coming back down just closing that gap up a little bit. But this is the area that i do think that were likely to pull back to at some point soon. I think were going to get rejected from the previous high area, as we can see over here and that would basically bring in us into about 22.4. Get rejected from 22.4 and if we 21 doesnt hold then do expect us to pull down into our yellow box area for buying a fantastic opportunity um to be had so guys, im going to leave the video there. If you have found it useful and informative hit.

https://www.youtube.com/watch?v=c5vStiDVOvI