Choosing Chia Network: Can It Grow? (825% - 1,471% Potential) I looked at some charts and passed one and said, nope; then another and another one... At one chart I stopped and thought, "this one looks good but there is something, I know that it needs more sideways... There is something missing."
I went back to look at all the trade-numbers I shared yesterday and looked at the difference; because some charts look good, they can produce a small jump but they still have 3-4 months left of consolidation. In this 3-4 months, they can produce a new low and it would be a waste to share them today, better share them when they are closer to breaking out.
After going through a few more charts, I found the difference; while some will be consolidation sideways with the doors open for moving down, potentially a new lower low, others will grow a bit then retrace to grow some more. The retraces would clearly end in a higher low which means that the probabilities are small for lower lows; which means that the bottom is in.
That was the difference. Those that did click were the ones that looked like the bottom was already in. I say "looked like" because in the end we don't truly know how the short-term action will develop. We can predict with 100% accuracy the long-term direction but the rest can be doubted without end.
Chia Network (XCH) looks like it already hit bottom and is ready to grow next.
Namaste.
