What I am noticing about a few of these altcoins is that they swing between the point of no return retracement -
0.24 & 0.78 levels of before an about turn. This tells me that the players are very risk averse and this is something I am now considering when looking for a safe entry. The first swing retraced back to 0.24 then consolidated - uncertainty ruled - the Bulls won taking price to a Higher high - precisely to the 127% PT extension (limit orders in their chaps) then the Bears and profit takers sent price back down to the 0.24 of this swing. So does this mean history will repeat, taking to the 127% PT extension of the retracement - I am looking at the 'Thin red line' for my target. That's a 120% gain.
0.24 & 0.78 levels of before an about turn. This tells me that the players are very risk averse and this is something I am now considering when looking for a safe entry. The first swing retraced back to 0.24 then consolidated - uncertainty ruled - the Bulls won taking price to a Higher high - precisely to the 127% PT extension (limit orders in their chaps) then the Bears and profit takers sent price back down to the 0.24 of this swing. So does this mean history will repeat, taking to the 127% PT extension of the retracement - I am looking at the 'Thin red line' for my target. That's a 120% gain.