On the above weekly chart price action has corrected 98% in a downtrending channel since February 2021. A number of reasons now exist to be long, including:
1) Price action and RSI resistance breakouts.
2) Price action exits a near 2 year consolidation.
3) Price action confirms a trend reversal with the first higher low higher high since 2020.
4) The downward channel or Bull flag confirms a breakout. The flagpole extension measures out at 8600%.
Is it possible price action corrects further? Sure. It is probable? No.
Ww
Type: trade Risk: <=6% Timeframe to take a long position: This month Return: 5000%
Trade active
GRM support confirms.
Now it is unknown to me as it is the next person if 8000% prints again in a ridiculous 12 week move until June, but it will be fun finding out.
Meanwhile there has been a number of frustrating messages from the public in the last 48-72hrs:
"Hi WW. I sold all my alts yesterday and today…well. :face_holding_back_tears:. I have money to invest but I need help”
The market is doing what it does, flushing out emotional traders. Trading less = winning more.
Trade active
If you're looking for a good long entry, don't ignore this day.
Note
A golden opportunity.
Note
Price action re-enters the consolidation area. It is incredibly improbable price action corrects below 9 cents. Therefore every step closer it takes to that level.... act.
Trade active
Can you imagine selling this for $8 a few months down the line?
The cost? Your patience. 95% of you reading this will fail to achieve this goal. Why? Emotions...
Trade active
The upside is now 10000% instead of 5000% with the recent retail capitulation. 100x.
Note
If at some point over the next days sellers provide the opportunity to pick up longs at 0.07, act. Hold until I close it, smiles will be made. Try and trade it, tears will be all you know.
Note
Is now the time to buy? Quick get in before it is too late!!!
Note
Someone somewhere bought at 14 cents yesterday and is now down 40% in 24hrs!
Allow 3-6 months on ideas. Not investment advice. DYOR
Also on:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.