Trying to give as many opportunities in the short term as possible.
A closer view and more details to come
Komen
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Waiting for the completion of the triangle to enter the trade.
Komen
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Personally, I call this a "Bat Wing formation."
It is very similar to what I've seen in ripple and usually ends in a consolidation that tight ropes for an extended period of time. It looks like that is what we're doing now. Close eyes on this one, It may almost be done.
Komen
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Alright guys, I'm using a new toy and i LOVE it. So. Good News and Bad News Bad News: I have an alternate wave count and I think this is it. Good News: Our Targets are actually set for higher distances in the longer term! Good News: If you entered this trade, I think you can get a nice 30-35% gain if we target a resistance level for the B wave (Target 0.5) Bad News: This consolidation will probably continue for a while longer.
This is the official Status Thread! I Like this one!
Komen
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If you haven't realized, nearly the entire market is reaching an apex point. The apex is the end point of a triangular formation. That's where decisions are made. A few coins are already breaking to the upside, so the market sentiment seems to be having some bullish weight on it. I think this thing takes us to the upside, and we ca target these two resistance levels to start off.
If we fall, we have a nice support line not too far from where we are. IF this is the end of the correction, then we could possibly continue to target the lines in the update above.
Komen
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The 3hr Stoch RSI is NOT a good sign! Be careful here!
sorry. What do you mean by "it may almost be done?" How do you think, Is it worth waiting for some higher levels for the next 15 days ?
Elijah_Trading
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@MichelJar, I meant by the correction period may almost be done. But I re-evaluated and it looks like it has more correcting to do. Always worth the wait! No rush on the entry.
MichelJar
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@Eball8, Thanks.
I opened the position on 0.14 cents and didn't manage to close it at 0.67 and now interested about the time it can take to return to ath levels))
Benx6
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don't all these alts go up if bitcoin goes up? if btc corrects heavily, can they still fly?
Elijah_Trading
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@Benx6, Yes and no. If Bitcoin goes down hard, so do altcoins. But if Bitcoin has a small correction then alts can fly. If Bitcoin goes up really fast, then alts get hurt. It all depends on the price movement for Bitcoin.