an updated version of my previous chart with some minor corrections.
Goodluck and trade safe!
-Toaby
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I did buy in on this massive run we had and exited. This scenario can still play out! we may have created a bear trap , or it could keep going UP . either way we're making money.
Safe trading.
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We were unsuccessful in breaking 8700 on Coinbase , so price looks like it will move down. Look for STRONG bounces on the 618 , 5 , and 386 . if not , we will try for a double bottom.
Good luck and trade safe!
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Missed the marker with the run up we had , but my stance still stands ; we might test the lows again. If we manage to pull a higher low on the daily chart then i am CONFIDENT we found the bottom. If not look for a double bottom or a lower low .
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If we cant hold the 618 im gonna bounce out and see where this thing ends up .
Reason i think we're not going for a double bottom anymore and setting a new higher low.
- This sell of is pretty well contained (so far) , and not not falling off too rapidly .
- Its built up a lot supports on the way up from this move.
-fundamentals - I think the accumulation faze is over and most people are convinced we have have found a bottom on this last sell off.
@GazMema, GREAT! i want to be wrong! we all want to see this thing moon, but someone has to play devil advocate and BE REALISTIC . and this chart isnt invalidated until we break 8700, until then this is completely sound.
Have a nice day.
GazMema
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@toabyt, i like to trade up, makes sense to me. i buy the dips, love them. The problem is that charts nice, but people are unpredictable, specially the crypto people, scared people, fomo people, moon, crash people. I liked your chart tho', that's why i commented on it :)
kuzmen98
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upd
EspressoDopio
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intersting. Keep updating this idea... Thanks for sharing.