The bottom seems to be a bit broader than I had expected previousely. So my stopploss had been to tight. When we see the weekly picture then we are still in region of the 2024 low that may still hold. If not then the bottom zone may be as broad as to the 2023 low at around 82.
We have reached the bottom of September and October again now. It had been broken at the end of September but was fulminantly confirmed wid a long spike and a window afterwards. ThusI expect it to hold now again.
It is not only the fast parabolic rise that makes me worry but also the very strong resistance here. A correction seems to be due. But I don't see a sign of a declne yet. Thus I will open a small position only.
Today's spike led us back into the trading range that had prevailed since September. It may be a sign of a bottom at the end of December.
The cloud is rising and we have corrected half of the rise since September. Thus a rise to test the previous high may be expected which may result in a Fionacci retracement of the December fall at least,
The August top, the October and November low build a support zone now. It was tested several times in October and November and has held so far. With newly upcoming momentum shown by the Stochastic it can be expected to hold again.
We have reached the April bottom again now. This was a retest iof the 2023 bottom. Thus we've got a good bottom zone now which may hold this time again at least for an upward correction.
The chart looks identically to the SOL one. Therefor I don't write an additional text here. Interested people may look here:
If today nothing special will happen then we may see the ordinary Fibonacci retracement now.
Last week we have exceeded the trading range since July. This week we are retesting the Top of the range again. Appreciating the outbreak this may be a chance to buy again.
The current uptrend has been retraced by over 25%. I see it as a possibility to buy back into the trend. Perhaps the coin will fall back until the March high. But the trend will be still valid then.
After the impressive rise we are seeing a declining momentum now. It may be seen as a sign of an ongoing downward correction.
Today we are seeing a correction of yesterday's rise. The process of bottom building is still intact however, The 50% intraday Fibonacci retracement may be used to bet on a further corrective rise.
Yesterday's star is confirming today. It is a clear reversalpattern for me.
The rise since end of September has been retraced now sufficiently. The momentum is still high enough and a continuation of the trend ma be expected.
By Fibonacci rules we have corrected almost 68 % of the rise since November 14th already. If we can imagine a rise of the ADX from here we may assume that this rise can restart from here.
We have now reached the window opened on December 4th and almost closed it. This may be considered as a target level in the downward correction. The recent uptrend ma be continued from here on.
We try to built a bottom since August already. We had failed in September. But the following rise could not close the broad window of September 1st. Subsequently the price fell back again. Now we are back in the old September range. If we consider the whole trading since 1st September as a long broad bottom then we can expect this to hold again and another rise...