I mean, yes.
But it is low probability that it happens or even happens as shown.
So the reason for the projection line, is to show how it "could" dip into the buy zone and potentially below allowing for a spring.
It doesn't need to happen this way, but essentially these low price targets hitting would be good for an upside move.
There are two short term trends, one of which just broke.
The other is mid level support and can easily break in a "flash crash" situation, which then could easily see our low side numbers in the near future.
Whatever is happening in crypto is happening soon, it will be fast, and if it is a massive dip, then the upside can be huge.
Again, it's a matter of will the low price targets hit before the high price targets.
I wish I had a for sure answer, but I don't.
I have a guess, based on what I see chart wise, and it shows the buy zone hitting first (low side targets) which then springs us right back to where we are currently, and allows the steep climb up to the major rejection area.
Summary,
MOSTLY A CHART UPDATE to reflect some of the price movement.
A potential path (guideline) don't follow, it's just a guess at best.
Follow the price targets (horizontal) and trends.
The last green trend is quite strong, and that also leads right to the buy zone.
Why is it important.
Current price to buy zone will lose you nearly 40%.
Buy zone down to .1492 means that anything over .3 is 100%.
It allows you a LOT of wiggle room.
Again, everyone has a different strategy, and it's best to stick to yours.
So, buying loopring to trade, you're holding off on this trend break, imo. The risk is high.
Buying loopring to hodl, then you're probably going to slowly add more and more as the price targets on the downside start to hit.
BUT WHAT IF IT GOES UP FIRST?
Then if you're bullish on LOOP, you're probably already holding some, and you'll see profits. Congrats.
If you're trading and miss some upside, there are like +700 other alt coins and thousands of stocks, you'll find the same percentage gain somewhere else. Don't chase to all time high and lose, when you can easily find another trade. BUT ALSO, watch for a spring on the low targets.
But it is low probability that it happens or even happens as shown.
So the reason for the projection line, is to show how it "could" dip into the buy zone and potentially below allowing for a spring.
It doesn't need to happen this way, but essentially these low price targets hitting would be good for an upside move.
There are two short term trends, one of which just broke.
The other is mid level support and can easily break in a "flash crash" situation, which then could easily see our low side numbers in the near future.
Whatever is happening in crypto is happening soon, it will be fast, and if it is a massive dip, then the upside can be huge.
Again, it's a matter of will the low price targets hit before the high price targets.
I wish I had a for sure answer, but I don't.
I have a guess, based on what I see chart wise, and it shows the buy zone hitting first (low side targets) which then springs us right back to where we are currently, and allows the steep climb up to the major rejection area.
Summary,
MOSTLY A CHART UPDATE to reflect some of the price movement.
A potential path (guideline) don't follow, it's just a guess at best.
Follow the price targets (horizontal) and trends.
The last green trend is quite strong, and that also leads right to the buy zone.
Why is it important.
Current price to buy zone will lose you nearly 40%.
Buy zone down to .1492 means that anything over .3 is 100%.
It allows you a LOT of wiggle room.
Again, everyone has a different strategy, and it's best to stick to yours.
So, buying loopring to trade, you're holding off on this trend break, imo. The risk is high.
Buying loopring to hodl, then you're probably going to slowly add more and more as the price targets on the downside start to hit.
BUT WHAT IF IT GOES UP FIRST?
Then if you're bullish on LOOP, you're probably already holding some, and you'll see profits. Congrats.
If you're trading and miss some upside, there are like +700 other alt coins and thousands of stocks, you'll find the same percentage gain somewhere else. Don't chase to all time high and lose, when you can easily find another trade. BUT ALSO, watch for a spring on the low targets.
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Cashapp enters my YOLO account.
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discord.gg/kFndmqab9y
Cashapp: $nicktussing
Venmo: @nicktussing
Donations appreciated, NOT AT ALL REQUIRED OR EXPECTED.
Cashapp enters my YOLO account.
Venmo gets donated to the local Animal Shelter.
