7/2/2016 BURST Coin Trading Analysis and Recommendation From FXALTareeq

Here's my analysis on BURST coin from 7/1/2016 trades.  For the lay person it looks like BURST is in an upward trend.  However, when you analysis the charts you will see that in order for an upward trend to be confirmed from a Forex, Cryptocurrency trading point of view we need to have a Higher High (HH) close.  The previous High High is at 0.00000080 Statoshi.

With that being said, you can see we are effectively ranging and/or in consolidation.  The ranging or consolidation box is highlighted in video below:

Yesterday 7/1/2016 we also saw a long Kangaroo Tail candle that was clear closed signal for the rejections of the days highs.  There were are a lot of Bears (Sellers) taking advantage of the upward movement of BURST for the day.  There needs to be more aggressive Bulls (Buyers) to enter the market in order for BURST to move out of the ranging/consolidation pattern.

All of my analysis is based purely on Price Action Trading.  No indicators, oscillators, or other lagging thingamajigs. There is always ACTION on the charts, but the best ACTION, is Price ACTION.
For complete Spot Forex and Cryptocurrency Trading analysis you can visit my Forex Forum.

Have a magnificent day on PURPOSE!
FXALTareeq