The downchannel works perfectly here. Red supports are not drawn to fit, they either represent psych levels (like 1,2,3, 4,50 or such) and in the case of the last current drop it "cross hit" the channel bottom, closing above and signaling a bounce.
The channel is fitted by the first low andall the tops. Until now, this channel perfectly hold and you could have drawn it two weeks ago! I noticed that prices almost exactly drop at "cross resitances", which means when the channel bottom hits a support/resistance. I based my prediciton on that. Though too late, this chart could have almost PERFECTLY predicted the 4,50 low, yielding some 30% profit if i had noticed that earlier.
First buy in this scenario will be 3,91 (40%), but it can drop to about 3,65 (+20% buyin). If this breaks, however, i think we are basically about to see 2,70. But then i expect a MASSIVE bounce back if the drop is not supported by extremely bad news or correlating drops of other coins.
dont blame me for loosing money, but have a look at it - maybe it helps you decide.
Lets see how this works out.
Short on the mid-term, until my long entry hopefully comes true.
The channel is fitted by the first low andall the tops. Until now, this channel perfectly hold and you could have drawn it two weeks ago! I noticed that prices almost exactly drop at "cross resitances", which means when the channel bottom hits a support/resistance. I based my prediciton on that. Though too late, this chart could have almost PERFECTLY predicted the 4,50 low, yielding some 30% profit if i had noticed that earlier.
First buy in this scenario will be 3,91 (40%), but it can drop to about 3,65 (+20% buyin). If this breaks, however, i think we are basically about to see 2,70. But then i expect a MASSIVE bounce back if the drop is not supported by extremely bad news or correlating drops of other coins.
dont blame me for loosing money, but have a look at it - maybe it helps you decide.
Lets see how this works out.
Short on the mid-term, until my long entry hopefully comes true.