NOT A TRIANGLE : Update
Here are my thoughts:
- On previous posts it was mentioned that SLP wasn't forming any triangle formation.
- After that, when prices went lower, I entered on a support and got stopped.
- For now, it seems that SLP is still struggling but it is near strong support area.
- I updated the descending Log channel to the new data.
- Right now, this is a good area to start with really small positions and dollar cost average.
- I am not expecting SLP to go lower than 0.1 usd, so it is a safe area for long term holders.
- For swing traders, wait for bottoming formation first.
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