Short
ETP Metaverse - When to buy
Wait to buy in the green block. Around 0.00009 - 0.0001 btc. This is a long trade of a few months.
Everything is explained in the chart.
I doubt that scenario 1 will take place, but orders can be placed on the wedge breakout. Use a stop loss as the breakout may not hold if it occurs.
Scenario 2 is most likely to happen.
The first target is just an estimate (Fibonacci retracement of 0.00029). There is also a good resistance there, so a short retracement can occur before going higher.
Metaverse has lots of potential. It is a potential 10x - 50x winner. But it will take some time first to develop momentum up.
Let me know if you have any questions.
Everything is explained in the chart.
I doubt that scenario 1 will take place, but orders can be placed on the wedge breakout. Use a stop loss as the breakout may not hold if it occurs.
Scenario 2 is most likely to happen.
The first target is just an estimate (Fibonacci retracement of 0.00029). There is also a good resistance there, so a short retracement can occur before going higher.
Metaverse has lots of potential. It is a potential 10x - 50x winner. But it will take some time first to develop momentum up.
Let me know if you have any questions.
Note
I meant fibonacci retracement of 61%, giving a first target of around 0.00029.Trade closed: target reached
Note
Wait for confirmation first. The market is still correcting. Target reached sooner than expected :-)
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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.