Goldfinch is not respecting fib levels and is still stuck in my descending channel from last post with the 1 Hourly EMA acting as STRONG resistance along with the top of my descending channel/wedge.
I suspected we would see prices of:
8.00
7.50
6.75
All I can say regarding Goldfinch is that if it cannot get above the 1 Hourly EMA Ribbon or my descending channel of resistance it will continue to range lower and lower. One would expect a relief bounce (I personally expected one around the 7.00 mark) but until then all I can say is slowly accumulate or wait for it to get above prior resistance levels and hold them as support.
I re entered a position around 7.15 and sold at 7.33 when I realized we couldn't break the 1 Hourly EMA as resistance and I re entered my position at 6.60. I will again sell if it still has resistance at the top of the channel or the EMA ribbon is still resisting us. I will also sell if we continue downwards (I dont HODL unless I REALLY believe in something like ADA or BTC) probably if we reach 6.30 and cant quickly get above that. If its a quick wick I tend to not sell but if we slowly continue lower I will again exit my position and re enter once the coin matures.
Good luck everyone and dont hold a sinking rock.
I suspected we would see prices of:
8.00
7.50
6.75
All I can say regarding Goldfinch is that if it cannot get above the 1 Hourly EMA Ribbon or my descending channel of resistance it will continue to range lower and lower. One would expect a relief bounce (I personally expected one around the 7.00 mark) but until then all I can say is slowly accumulate or wait for it to get above prior resistance levels and hold them as support.
I re entered a position around 7.15 and sold at 7.33 when I realized we couldn't break the 1 Hourly EMA as resistance and I re entered my position at 6.60. I will again sell if it still has resistance at the top of the channel or the EMA ribbon is still resisting us. I will also sell if we continue downwards (I dont HODL unless I REALLY believe in something like ADA or BTC) probably if we reach 6.30 and cant quickly get above that. If its a quick wick I tend to not sell but if we slowly continue lower I will again exit my position and re enter once the coin matures.
Good luck everyone and dont hold a sinking rock.
Comment:
I need to add that if this drops because of BTC dipping below 40k again I will hold my position as that would be a drop that has external factors dragging Goldfinch down.