Mock Up Price Action for ONG | Mid Term (12HR)
Mock Up Price Action for
ONGUSDT
| Mid Term (12HR)
- Watching and waiting for opportunities to enter short
Personal Approach & Base Chart Setup
- Stacked Parallel Channels for Grid of Confluence Points
- High Time Frame (HTF) Fib Extensions, Retracements, & Time Cycles
- Red Filled Horizontal Rectangles between areas of major Fib level from Extensions and Retracements
- Price Label Callout with Red Circle highlighting points of interest where I'd consider making a trade
- I will consistently monitor and adjust taking into consideration long/mid/near term price action and market conditions/news
Additional Remarks
Still watching and waiting for a movement like this before I consider entry into short. My most likely scenario to play out will be continued BTC ETF approval speculation and hype driven bullish pump for market leading into SEC decision, then upon the news dropping good or bad (IMO likely good and green light ETF approvals), a "buy the rumor sell the news" short term healthy pullback for the market. BTC has run for the past couple months and so in January my anticipated small/normal pullback correction and people taking profits playing to the buy the rumor sell the news.. Which this in my observation would initially present like a panic sell off of everything, but once folks realize BTC isn't going into the dirt and things stabilize out, range and accumulate, then ETH to take a turn in February next, before then the ALTs February into March. Money flowing from Large to Mid to Small to Micro cap as is the natural progression of things. And in March with the market having confirmed recovered and run bullish for all this time, some kind of bullish recovery top and then massive cascading dump leading into the BTC Halving event March through April, pulling back hard recovering, then May the beginning of a steady climb up and true bull cycle. I'm not chasing anything right now, as I believe its too risky to assume one way or the other. I Entered the market and made my trades October through November and essentially pulled out of all short term speculative positions/trading. I am now taking the opportunity to observe the market, watchlist and monitor the winners and price actions, map out potential bullish and bearish targets, and simply patiently wait for whatever this correction / crash / rug pull moment before cherry picking re-entering the market in earnest. Until then I will simply take advantage of quick trades in and out, in parallel to just accumulating my mid to long term bags of things I actually believe in like
CSPRUSDT
and
XRPUSDT
ONGUSDT
| Mid Term (12HR) - Watching and waiting for opportunities to enter short
Personal Approach & Base Chart Setup
- Stacked Parallel Channels for Grid of Confluence Points
- High Time Frame (HTF) Fib Extensions, Retracements, & Time Cycles
- Red Filled Horizontal Rectangles between areas of major Fib level from Extensions and Retracements
- Price Label Callout with Red Circle highlighting points of interest where I'd consider making a trade
- I will consistently monitor and adjust taking into consideration long/mid/near term price action and market conditions/news
Additional Remarks
Still watching and waiting for a movement like this before I consider entry into short. My most likely scenario to play out will be continued BTC ETF approval speculation and hype driven bullish pump for market leading into SEC decision, then upon the news dropping good or bad (IMO likely good and green light ETF approvals), a "buy the rumor sell the news" short term healthy pullback for the market. BTC has run for the past couple months and so in January my anticipated small/normal pullback correction and people taking profits playing to the buy the rumor sell the news.. Which this in my observation would initially present like a panic sell off of everything, but once folks realize BTC isn't going into the dirt and things stabilize out, range and accumulate, then ETH to take a turn in February next, before then the ALTs February into March. Money flowing from Large to Mid to Small to Micro cap as is the natural progression of things. And in March with the market having confirmed recovered and run bullish for all this time, some kind of bullish recovery top and then massive cascading dump leading into the BTC Halving event March through April, pulling back hard recovering, then May the beginning of a steady climb up and true bull cycle. I'm not chasing anything right now, as I believe its too risky to assume one way or the other. I Entered the market and made my trades October through November and essentially pulled out of all short term speculative positions/trading. I am now taking the opportunity to observe the market, watchlist and monitor the winners and price actions, map out potential bullish and bearish targets, and simply patiently wait for whatever this correction / crash / rug pull moment before cherry picking re-entering the market in earnest. Until then I will simply take advantage of quick trades in and out, in parallel to just accumulating my mid to long term bags of things I actually believe in like
CSPRUSDT
and
XRPUSDT
Comment:
Decided to put trigger limit short orders in at the top price bubble range, staggered orders, and play it safe. Considering the price action on many of the other ALTs, it is not that unbelievable to think we could impulse up that high in a moment, then fall down into the dirt.
