I know this is probably not the type of posts you see here everyday, but I want to share with you the point of view of a swing trader concerning CRO's near-future price, so I will make this as easy to understand as possible:
I have been eyeballing CRO for a week now, waiting for the pullback after the massive spike on November 15th, to snipe a good entry, and here's what I found out:
The Price pulled back to just under Fibonacci level 0.618 on November 17th early morning, held there for 4 hours and then responded with an engulfing candle confirming the end of the pullback today around 05AM my time.
Now that we got our entry point, we need to see where the next stop is, so:
I drew the Fibonacci extension as you can see in the photo below and there are 3 potential price levels where the price will arrive to **and reverse again** a bit to the downside:
\- At Fib level 78%, it will go to 0.5343$ (Sure)
\- At Fib level 100% it will go to 0.5775$ (Probable)
\- At Fib level 200% it will go to 0.7839$ (Optimistic)
Now, when it reaches the previous All time high price of 0.50$ (which it did while I was writing this post), there will be some unhappy people who bought at this level and will be dumping their CRO onto the market , so we might experience a small pullback, but it will continue past it afterwards.
Concerning the next price levels, I can't tell you to which of these levels the price will arrive, but personally, I'm confident it will arrive to 0.5775$ by the end of the week, I 'm not sure if it will arrive to 0.7839$ without a fight, but it will arrive there for sure, but probably by the end of this month.
I hope I cheered some of you guys up with this.
**EDIT: this is not a financial advice and the timeline for these price might stall a little to arrive to these levels so don't hold this against me. Thanks**
**EDIT2 : We hit the first Fib level (78%) @ 0.5343$. Let' s go!!**