Aurora Coin Technical Analysis | Breakout with strong Impulsive Move
In this post I am going to cover technical analysis of Aurora Coin for medium term trade. I am using tradingview charts and price linked to Bittrex exchange. Let' have a look on technical aspects of Aurora Coin.
Possibility on 1 hour Chart
https://imgur.com/a/CDJwXIf you look at 1 hour chart, you will see Aurora Coin has mad a big impulsive move and now it is forming a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pull backs and wait for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has dipped to 50 level now, so we have pull back done and next impulsive move is ready. Let's have a look on Bollinger bands, you will notice the impulsive move took the price to top bands and flag has pulled price back to median line, so we have a possibility of next impulsive move soon.
