It's always good for crypto to take a step back and breathe. Alt coin season is upon us so there will be more gains to be made, but only if we do so responsibly.
Throwing this idea out to the community in hopes to get some feedback.
Disclaimer: Not a financial advisor, invest at you own risk.
just curious why you dont have your fib levels starting from the feb 23 or feb 28 run?
egah59222c
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@kayv3n, Starting from those dates isn't wrong, it just paints a bigger picture under normal market conditions. On Sunday FOMO kicked in and it drove ENJ Price way above what was supposed to be the next target. RSI and MACD were screaming bearish divergence and yet the price kept climbing. ENJ is till hyped up so i think being a bit conservative and starting from the bottom of the first pullback seemed appropriate. We can't discard the Stimulus Checks making into most 80% of American's bank accounts today, so just being cautions/conservative.
Just to add when drawing fib levels from feb23,feb28, those levels represent strong support zones, so if you draw another fib retracement between those levels to the top, you get these fractals that are also valid. Idk if anyone else noticed this and would love to chime in.
Hope that helps explain my thought process
kayv3n
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@egah59222c, yup thanks, appreciate it. yes very strong bearish divergence, was watching that all last week and was expecting the biggest cool off from any of these recent runs.
kayv3n
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@egah59222c, also - was trying to count those waves that started late feb. I was guessing that that last run from march 13 was an extended 5th (if counting from late feb).
FLIPPIN_TIGERKING
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Yeah i could see it hitting that 2$ range then booming again. I love this retracement, healthy stuff! Lotsa people wanted in on this one, well now they'll get their chance! NFT's are here to stay baby! HODL and buy the dips!