HOTETH with approx. satoshi targets
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I had analysed this coin better for HOT/BTC but since Binance dropped HOT/BTC pair due to high BTC price I found the appropriate prices for HOT/ETH instead.
To my surprise, some fit quite nicely to HOT/ETH support levels also.
Satoshi levels are approximations based on the price on publishing day.
For the wave 2 retrace, if you take the 1 and project it from the 2 with a fibonacci extension the 1.618 should land at 19 sats.
If you want to trade this in more detail, the sub-waves selling points in the third wave I would recommend selling at around 14-15 sats level and possibly buying back a little lower.
But the real trade if this plays out, will be selling around 19 and buying back around 12, and selling at 21 again.
RISK: HOT has been in a bear market for super long, these impulse waves tend to happen though, trade at your own risk.
I will be very surprised if these waves trend exactly like this, I only look at this as strategy until something else appears.
To my surprise, some fit quite nicely to HOT/ETH support levels also.
Satoshi levels are approximations based on the price on publishing day.
For the wave 2 retrace, if you take the 1 and project it from the 2 with a fibonacci extension the 1.618 should land at 19 sats.
If you want to trade this in more detail, the sub-waves selling points in the third wave I would recommend selling at around 14-15 sats level and possibly buying back a little lower.
But the real trade if this plays out, will be selling around 19 and buying back around 12, and selling at 21 again.
RISK: HOT has been in a bear market for super long, these impulse waves tend to happen though, trade at your own risk.
I will be very surprised if these waves trend exactly like this, I only look at this as strategy until something else appears.
Nota
If you want to wait for a retrace. I would say circa 0.00000120 ETHNota
Looks like the third wave hasn't quite finished, went to about 16.8 sats. Still, the 1 wave went a little shorter then I expected. I am buying more between the 9 and 12 sats marks:
Buy: From 0.00000261 ETH to 0.00000370 ETH
But keep this rule:
IF: Goes straight to 19sats(0.00000589 ETH) before going below 0.00000300, THEN: Buy back at 0.00000373 that is 12 sats (at the moment, calculate for yourself later)
Or just buy back in now at 0.00000373 and wait for it to bounce if it goes down before going up again. Take your own risk.
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