Maker (MKR) Coin: How to Spot a Bottom 80% of the Time

In a sea of crypto-red, the Maker (MRK) coin appears to have bottomed out.

The coin, which offers a transparent system full inspectable on the ETH blockchain helps to manage the DAI stable coin. Better, Coinbase Pro has added support for the coin, too.

Another reason to like the Maker coin is based on its technical pivot points.

If we look at a one-year candlestick chart of Maker, we can clearly see the coin has bottomed. For one, the coin is now oversold at its lower Bollinger Band (2,20).  In fact, if we look back over the year, we can see that each time the coin has hit or penetrated its lower Band, it pivots and bounces up to 80% of the time.

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- In August 2018, it caught the lower Band, and rallied from $400 to $500

- In September 2018, it did so again, and rallied from $300 to $800 at one point

- In November 2018, it happened again, and rallied briefly from $300 to $425

- In January 2019, it caught the Band, and pushed higher from $400 to $800 again

Now, the coin is right back at its lower Band, and could potentially do the same thing.

However, we never want to rely on a single indicator. We want confirmation of trend.

So, we begin to confirm with relative strength (RSI).

Every time MRK hits its lower Band, and RSI is at or near its 40-line, we typically see a reversal higher in the coin.  We saw that in each of the examples we bulleted above.

We can then confirm even more by Full Stochastics.

Each time this indicator drops to or below its 20-line, and confirms an oversold condition on RSI and the Bollinger Bands, the coin pivots and pushes higher.

In short, using technical analysis can significantly improve your success.

While we wait for the U.S. SEC to get its act together, we can use technical pivot points to uncover opportunity.

Free Bonus Report: There are several patterns that can pinpoint the likely price movement of cryptos. 

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