Just do it already!!Alright degens. We are here.
- RSI did another lower high on the daily.
- RSI double bottom at 1H chart.
- Price is at the 38.2%.
- Small break of trendline in the 1h chart.
Are we pumping? absolutely not . We're just watching.
Although price broke the trendline, it needs to at least break the last lower high with strength to confirm a reversal.
Although we hit what we think it might be the bottom of wave C of Wave 2, price could still go lower since the rule that invalidates Wave 2 is that it cannot retrace more than 100% of Wave 1. That would take us back below $.40. Do I really believe price will go there? No. But I am just as clueless when it comes to the will of the market.
For now, I am watching for how price behaves in the market purple box in the chart. I expect a rejection, but I hope that price will be able to hold this level. I wouldn't be surprised if price uses the $.51 - $.70 range to consolidate/accumulate sideways. I'm also looking for a strong RSI to signal change in dominance from sellers to buyers.
As I mentioned in my previous posts, this is a crucial time for us to start observing the market in general and also observe what is happening in the macro view of the market.
One of the things that dragged all of us to this chaotic crypto market is the fact that when it comes to recovery, no one performs better than us. When time comes there will be signs, so keep your eyes opened.
For now I am just glad that the targets I had doodled in my charts were hit and surprisingly enough they are somehow holding hahaha I'm a god. JK. I'm just a noobie trying to learn how to lose money while looking smart at the same time.
May Satoshi bless us all
*Not Financial Advice*
