Hi Everyone! Our 2-Day time frame suggests our current support and resistance is the current price of the White Lower B-Band and Bad Ass B-Band Basis (20-MA; close). One would have to monitor the lower time frames; if already in a short position; to make sure the Red RSI and Blue LSMA "continue" to remain BELOW level 50 in the 30-min. 60-min. 90-min. 2-hr. 3-hr. 4-hr. 6-hr. and 8-hr. time frames. Which is to say, the "entire" Short Term Group. Once you begin to see the Red RSI and Blue LSMA begin to make their turn back above Level 50; one time frame after another; in the Short Term Group, you may have a look at the Near Term Group to see if something significant may be on the horizon for a Swing High or a Swing Low. If a Swing High appears likely, you may begin to see the price action move towards that "thesis." At which point; if you haven't already; you begin to take profit by cost averaging OUT the same way you exercised "cost averaging" IN as a Swing Trader.
If you are in NO position at present and looking to open a position, it would be best to reduce risk by waiting to see what we will do NEXT when we exit out of this current trading range between $49,015 and $47,900 to a HIGHER or a LOWER trading range. Which means, you are likely waiting on "expansion" of the B-Bands in the 6-hour; followed by the 8-hour and 12-hour. You may not wish to wait for expansion in all three time frames. Instead, you go with the expansion you see in the 6-hour; making sure to dollar cost average IN. While also being ready to dollar cost average out if it appears we do not get the expansion you hoped for in the 8-hour and 12-hour.
I've found it's not a time to panic if you bought actual coins while exercising dollar cost averaging IN to the coin. What do I mean? I'm referring to the current trading range inside of relatively tight B-Bands in the 6-hour, 8-hour and 12-hour time frames. You are not panicking when the price drops 5 to 7 percent lower than where you just bought some. WHY? Because you are dollar cost averaging inside this relatively tight trading range. You're doing so with the first couple of dips inside the tight B-Bands and prepare to dollar cost average OUT if we go up again to the White/Aqua UPPER B-Bands inside the relatively tight B-Bands. You may dollar cost average back IN at the White/Aqua LOWER B-Bands inside the relatively tight B-Bands. Until finally, the time came when it appears we get a bit of expansion up and the Red RSI and Blue LSMA both get above Level 50 for a sustained period of time; which gradually pushes the price action UP in at least a gradual organic uptrend. This was when we had the price move up toward the B-Band Basis in the 2-Day time frame; referred to in a previous publication. At this point, you may have considered dollar cost averaging a little OUT on a dip if the indicators show the potential for that to occur. Then consider dollar cost averaging back IN at or near the bottom of a potential dip or dump.
If a dump occurred, I personally would not panic sell the remainder of what I had already dollar cost averaged IN to the coin. Why? Because it would have been a relatively low amount of actual capital used to dollar cost average IN at this point. WHY? Because no CLEAR "pressure"" TREND has been ESTABLISHED. We've been going sideways; for the most part; for a couple of weeks after that recent 20 percent drop down. It was a total of 40% drop from the All Time High (ATH). I personally would keep those coins and know I may have opportunity to use the remaining 50 to 80 percent of trading capital on any further price drops down. Again, that's IF we were to see a dump anytime in the near future. I'm currently not seeing anything below $41k at present. That's my opinion of course. We have pretty good support at $41K.
Let me go ahead and get this out...
Happy Trading and Stay Awesome!
MERRY CHRISTMAS and HAPPY NEW YEAR!!!
David
If you are in NO position at present and looking to open a position, it would be best to reduce risk by waiting to see what we will do NEXT when we exit out of this current trading range between $49,015 and $47,900 to a HIGHER or a LOWER trading range. Which means, you are likely waiting on "expansion" of the B-Bands in the 6-hour; followed by the 8-hour and 12-hour. You may not wish to wait for expansion in all three time frames. Instead, you go with the expansion you see in the 6-hour; making sure to dollar cost average IN. While also being ready to dollar cost average out if it appears we do not get the expansion you hoped for in the 8-hour and 12-hour.
I've found it's not a time to panic if you bought actual coins while exercising dollar cost averaging IN to the coin. What do I mean? I'm referring to the current trading range inside of relatively tight B-Bands in the 6-hour, 8-hour and 12-hour time frames. You are not panicking when the price drops 5 to 7 percent lower than where you just bought some. WHY? Because you are dollar cost averaging inside this relatively tight trading range. You're doing so with the first couple of dips inside the tight B-Bands and prepare to dollar cost average OUT if we go up again to the White/Aqua UPPER B-Bands inside the relatively tight B-Bands. You may dollar cost average back IN at the White/Aqua LOWER B-Bands inside the relatively tight B-Bands. Until finally, the time came when it appears we get a bit of expansion up and the Red RSI and Blue LSMA both get above Level 50 for a sustained period of time; which gradually pushes the price action UP in at least a gradual organic uptrend. This was when we had the price move up toward the B-Band Basis in the 2-Day time frame; referred to in a previous publication. At this point, you may have considered dollar cost averaging a little OUT on a dip if the indicators show the potential for that to occur. Then consider dollar cost averaging back IN at or near the bottom of a potential dip or dump.
If a dump occurred, I personally would not panic sell the remainder of what I had already dollar cost averaged IN to the coin. Why? Because it would have been a relatively low amount of actual capital used to dollar cost average IN at this point. WHY? Because no CLEAR "pressure"" TREND has been ESTABLISHED. We've been going sideways; for the most part; for a couple of weeks after that recent 20 percent drop down. It was a total of 40% drop from the All Time High (ATH). I personally would keep those coins and know I may have opportunity to use the remaining 50 to 80 percent of trading capital on any further price drops down. Again, that's IF we were to see a dump anytime in the near future. I'm currently not seeing anything below $41k at present. That's my opinion of course. We have pretty good support at $41K.
Let me go ahead and get this out...
Happy Trading and Stay Awesome!
MERRY CHRISTMAS and HAPPY NEW YEAR!!!
David
