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by Seth Parker on August 24th, 2018

CyberMiles Analysis – 0.12 USD is too much for now

Long time, no see. The first instrument today, will be the Cybermiles, which previously was analysed by us at the beginning of June. The 6th of June to be precise. Back in that day, the price was on the 0.3 USD and we were bearish:

“Current sentiment is negative and the potential target for this drop is much lower. In our opinion, in the mid-term, the price can even fall towards the area around the 0.22 USD (green). Sell signal will be denied when the price will come back above the 0.35 USD but the odds for that are very low. „

cybermiles chart

That was one of the best analysis on this portal. Since those words were written, the price was never higher! CMT fell down like a rock, reaching the 0.065 in the middle of August. What a drop! Since that, we have a small reversal but buyers stopped on a first important horizontal resistance on the 0.12 USD (yellow), which is with us since the middle of February. Despite the fact that today, we are up almost 13%, the sentiment is still negative and as long as we stay below the yellow area, we do have a sell signal.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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