Hello Steemers!
Making a chart of I/O Coin today (IOC).
It is ranked 38th on coinmarketcap and has been in a reasonable uptrend so since it came out.
Fore more info about I/O Coin check out their website and their Bitcointalk thread:
Website - http://iocoin.io/
BCT thread forum - https://bitcointalk.org/index.php?topic=695855.0
Starting with the clean charts, will show the monthly weekly and daily.
monthly chart Poloniex -clean - Dec. 28, 2016
We can see how there was an initial dump in 2015, then the uptrend started shortly after we entered 2016.
weekly chart Poloniex -clean - Dec. 28, 2016
The first uptrend started in March 2016. and made a new high at 32.7k satoshi, after making the new high the price started retracing and went down to about 27k satoshi from where it turned into a uptrend once again.
daily chart Poloniex -clean - Dec. 28, 2016
As the 2nd pump started the price made a short stop around 20k satoshi, then leaped into new highs marking the top at 66k., since it touched the top it started trading pretty volatile with a downtrend, now being traded at around 38.5k satoshi.
Adding some lines to the chart, used the weekly to put them on.
monthly chart Poloniex -lines - Dec. 28, 2016
weekly chart Poloniex -lines - Dec. 28, 2016
With the lines on we can see some accumulation tones, the first bottom one of 2015 having it's top at around 6.8k satoshi, then the coming one after the first pump which ranged from about 7k to about 20k satoshi.
daily chart Poloniex -lines - Dec. 28, 2016
The most highest accumulation zone seem to be forming between about 28k and 45k satoshi.
Putting a fib on to see a more clear view.
monthly chart Poloniex -fib - Dec. 28, 2016
weekly chart Poloniex -fib - Dec. 28, 2016
With the fib on it seems that the top accumulation zone has its range from 27.6k satoshi to about 42.5k.
The middle accumulation zone seems to be a less important zone for accumulation, rather a support/resistance zone.
daily chart Poloniex -fib - Dec. 28, 2016
On the bottom the fib reveals a major accumulation zone reaching from the all time low to about 18.5k satoshi.
What to expect next?
1st (green) - The price stays within the 35k+ level's confirming the newly made local low on 27.6k as a new bottom and after short time of accumulation pumps up into new all time highs.
2nd (yellow) - The price goes to make a new local low at around 20k satoshi and starts a accumulation first in the zone with the 27.6k top then in goes upwards from there into the next one.
3rd (red) - The price does down entering the major accumulation zone and making it's way towards the all time low, it marks a new local low and turns from there starting accumulation
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
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DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind Regards, OZ :)