Monthly is at best a pullback in an uptrend, at worst the bottom of a range if we stay flat.
Weekly is well into value buy area in terms of relative prices.
Daily is finding demand at 1.20 and is breaking out of its most recent downward price action.
Fundamentally this is a newer asset in the space, I theorize that if crypto assets go into a bear market from here (Which is anyones guess, but the index is high in its relative price range) then we may see a lot of these younger coins break to new lows relative to themselves because a lot of new coins came into the market during the most recent bull run. So what might be a pullback or accumulation range to bitcoin and other large cap assets in the space might spell new all time lows for something like this. In that case I'd still be a buyer into the smaller cap tokens because I fundamentally believe in the technology behind these assets (blockchain, meta, etc)
This would be an investment for me, not a trade. I would allow for careful dollar cost averaging in an investment, but a trade I would cut my losers quickly.
Weekly is well into value buy area in terms of relative prices.
Daily is finding demand at 1.20 and is breaking out of its most recent downward price action.
Fundamentally this is a newer asset in the space, I theorize that if crypto assets go into a bear market from here (Which is anyones guess, but the index is high in its relative price range) then we may see a lot of these younger coins break to new lows relative to themselves because a lot of new coins came into the market during the most recent bull run. So what might be a pullback or accumulation range to bitcoin and other large cap assets in the space might spell new all time lows for something like this. In that case I'd still be a buyer into the smaller cap tokens because I fundamentally believe in the technology behind these assets (blockchain, meta, etc)
This would be an investment for me, not a trade. I would allow for careful dollar cost averaging in an investment, but a trade I would cut my losers quickly.