As the title suggests I am still expecting another low before we move higher again. Looking at the prior price action, a drop to the 1.382 @ $163.02 looks like the ideal place for this intermediate (A) wave to terminate. Afterwards, if this is the correct count, we should begin moving higher with a target of $260-$300. There is always the chance that it extends a little further to the 1.618 @ $137.31, but as of now I do not anticipate that. Should we drop to the area of the 1.382 I plan on acquiring another 20 shares. If we end up coming into the 1.618 that'll be another 20 shares I pick up. I have entered into this position in layers with a plan long before I started. This is the only way to trade based on data and not emotions. Currently I only have 40 shares at an average price of $187. Another 20 shares at say $165 (the price I will buy more) would lower my avg cost to $179. If my thesis is correct, and we do target the $260 range at a minimum, that will be almost $5K in profits with the potential of $8K. Again, this is not guaranteed, but the probability of it happening is higher than it not.
Last thing I want to leave you with, crypto as a whole IMHO, has hit its high. I believe we have started the next corrective phase that will last for quite some time. We do NOT yet have confirmation of this, but I deal with probabilities. As of right now, the probabilities favor a larger consolidation phase for the foreseeable future.
Last thing I want to leave you with, crypto as a whole IMHO, has hit its high. I believe we have started the next corrective phase that will last for quite some time. We do NOT yet have confirmation of this, but I deal with probabilities. As of right now, the probabilities favor a larger consolidation phase for the foreseeable future.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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.
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
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.