Uuuhh... Lets talk about the smoke pump! It's been a while - Smoke Market Analysis - 09/09/2019

in cannabis •  13 days ago  (edited)

That's a bottom if I've ever seen one

That sure looks good to see. Price is taking OFF! We've been scraping along the same level for quite some time and the bulls have finally stepped in and quickly pushed the price up nearly 10x next to bitshares. To be honest, I don't see a good reason for it to stop. There are hardly any sell orders on the books to stop it. The bears completely exhausted and the bulls are now taking full advantage. Hodlers rejoyce!

The Books!

The books look increadibly strong. Buy orders are backing up the price increases and there isn't much in terms of sells sitting on the books to stop the price from continuing to climb higher if that's what the bulls want to do with it.

Back to Back

We just saw price 2x back to back against Bitshares. If we're forming some sort of elliot wave and we make another similar 2x, we could see 0.8 bts per smoke in relatively short order here.

Hard to see coming

This breakout was hard to see coming. We had a clean break of resistance which took us into explosive movement upward, very classic TA bottom, but you never know when it's going to take off, you just want to be loading up while it's churning along the bottom.

Up against previous resistance

I'm not sure this resistance will act as anything significant, it may just be where we pause. This will certainly be interesting to watch. I think there will come a point in time when we will look back on smoke below 1 Bts as a crazy discount, and below 0.1 absolutely insane. Lets get it!

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