Testing/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
We have a -92% drop from the top so far that's in. We might have a possibility of another leg down making it -95% drop from the top. I highly think this will not happen unless the whole crypto market crashes.
R/R ratio from today's price: 18.88
Possible upside: 1200%
Possible downside: -63%
R/R ratio from -95% drop 517
Possible upside: 3310%
Possible downside: None, I believe this would truly be the bottom and not use a stop loss.
If you're the market maker, would you want to give people the opportunity to make an extra 3000% or 1200%?
Another crypto crash down across all these charts would cost the market maker more money. Crashing the market by another -50-60% and giving away 3000%+ doesn't seem like the wise play here.
RSI has been at all time lows and MACD's are starting to curl up. Very unlikely we go lower to -95%.
We have a -92% drop from the top so far that's in. We might have a possibility of another leg down making it -95% drop from the top. I highly think this will not happen unless the whole crypto market crashes.
R/R ratio from today's price: 18.88
Possible upside: 1200%
Possible downside: -63%
R/R ratio from -95% drop 517
Possible upside: 3310%
Possible downside: None, I believe this would truly be the bottom and not use a stop loss.
If you're the market maker, would you want to give people the opportunity to make an extra 3000% or 1200%?
Another crypto crash down across all these charts would cost the market maker more money. Crashing the market by another -50-60% and giving away 3000%+ doesn't seem like the wise play here.
RSI has been at all time lows and MACD's are starting to curl up. Very unlikely we go lower to -95%.