Hi traders
before the analysis one comment from my side:
my personal opinion is that most of the altcoins will disappear (possibly within one year, max two, based on my estimation)
Based on that I would not personally trade coins with low liquidity, as you can see in the chart, there is at least an example of one candle that fluctuate the price up and down moving it almost 35% in few minutes
I don't find major algorithm target in the chart and the wave count is very difficult and I think would just confuse me more..
what I can see is that the latest part of the chart, might looks like an accumulation zone... but again... difficult to say it in a chart that, beside the first spike up, is only a downtrend!
If i would risk a small amount and possibly consider it lost forever, I would consider the last wave up as a first wave and buy in the yellow zone with stop loss at the dashed red line
Overall, I will not touch this cone
These are only my personal opinion , this is no financial or investment advise.. I am not a professional, and what I do is just for fun :)
before the analysis one comment from my side:
my personal opinion is that most of the altcoins will disappear (possibly within one year, max two, based on my estimation)
Based on that I would not personally trade coins with low liquidity, as you can see in the chart, there is at least an example of one candle that fluctuate the price up and down moving it almost 35% in few minutes
I don't find major algorithm target in the chart and the wave count is very difficult and I think would just confuse me more..
what I can see is that the latest part of the chart, might looks like an accumulation zone... but again... difficult to say it in a chart that, beside the first spike up, is only a downtrend!
If i would risk a small amount and possibly consider it lost forever, I would consider the last wave up as a first wave and buy in the yellow zone with stop loss at the dashed red line
Overall, I will not touch this cone
These are only my personal opinion , this is no financial or investment advise.. I am not a professional, and what I do is just for fun :)