WINK/USD - Parabolic rise facing gravity resistance... ⛔
If you wondered why BTC is losing market dominance, here is a great chart to explain it.
Some selected altcoins like WINK have made over 30x gains in the past few months and in this particular case we have 5x in 5 days. Talk about doubling your money, lol.
However, there is this law discovered by Isaac Newton called gravity and that law states that: any particle of matter in the universe attracts any other with a force varying directly as the product of the masses and inversely as the square of the distance between them.
In this case, the gravity pull will be towards mean price and that is very far away from where WINK is currently at. It will require more than a 80% price drop from here to reach our mean price. Any more pump and we will walk on the moon with Wink.
The yellow parabola also shows that the distance between the parabola and price has widen significantly. Sustaining such price levels require exponentially more money to maintain. Hence, it will be a quick fall when the money dries up.
What am I hinting at? Best to secure profits after such a run, don't get greedy, what you have here is the best greed can offer. So take your profit and enjoy it. Give price time to show what is next, and in this case another pump becomes more unlikely than a drop, risk/reward favors shorts.
Some support is found on the Fib 161% level, if that won't hold there is more support lower and the best candidate to stop any significant drop is at Fib 38%.
Bullish bias can be maintained only if we set a new high. Lets see how today's candle closes. Until then, enjoy your profits.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
Some selected altcoins like WINK have made over 30x gains in the past few months and in this particular case we have 5x in 5 days. Talk about doubling your money, lol.
However, there is this law discovered by Isaac Newton called gravity and that law states that: any particle of matter in the universe attracts any other with a force varying directly as the product of the masses and inversely as the square of the distance between them.
In this case, the gravity pull will be towards mean price and that is very far away from where WINK is currently at. It will require more than a 80% price drop from here to reach our mean price. Any more pump and we will walk on the moon with Wink.
The yellow parabola also shows that the distance between the parabola and price has widen significantly. Sustaining such price levels require exponentially more money to maintain. Hence, it will be a quick fall when the money dries up.
What am I hinting at? Best to secure profits after such a run, don't get greedy, what you have here is the best greed can offer. So take your profit and enjoy it. Give price time to show what is next, and in this case another pump becomes more unlikely than a drop, risk/reward favors shorts.
Some support is found on the Fib 161% level, if that won't hold there is more support lower and the best candidate to stop any significant drop is at Fib 38%.
Bullish bias can be maintained only if we set a new high. Lets see how today's candle closes. Until then, enjoy your profits.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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