INJ about to fly for a second time ? Maybe.

8 mar 2022

This is risky play here since the whole geopolitical situation around the world is unstable and governments are flagging imminent regulations of cryptocurrenciess so expect more volatility here. Bitcoin needs to behave too for this prediction to happen.

For the Ichimoku cloud there is the visible strength of the senkou span A ( green cloud ) trying to cross the senkou span B ( red cloud line ) as well as a big inflow of money due to the recent LUNA ecosystem hype.

Let's continue with the chikou span ( neon green line ) it illustrates us perfectly the inverse head & shoulder formation approaching what would be a 30% rise.

INJ also returned to the .25 level of the Fibonacci resistance fan which usually announces a trend reversal based on my previous analysis.

But the most important thing is the support (~1320 sats) it MUST not be broken if so we return to the previous support and probably form a double bottom on the mid-term. If it decides to break out of its current resistance we could see a 100% sooner than we might expect it to.

So it's either bullish short-term or mid-term.

** As always never forget to DYOR this is not financial advice and should be taken only as a data point needing many more so you can invest AND at the same time keep on sleeping well. ;D

If you have any questions ask them away I'll try to answer them as best as I can ! Stay safe out there and until next time take care of yourselves mates :)