New thread on correcting channel [No. 3]
Looking for grind down over the course of this last quarter. End of the correction in sight. Ideal buy target still 6.7K. Practical buy target the buy zone [shaded area].
Previous threads
Looking for grind down over the course of this last quarter. End of the correction in sight. Ideal buy target still 6.7K. Practical buy target the buy zone [shaded area].
Previous threads
Some trigonometry...
1] Medium term downward channel intact
2] Meeting the longer term mean of the cyclical curve [green dotted line]
3] meeting the longer term buy zone/ log growth curve
Fibs
1] An 'ideal' 50% retracement still on the cards
2] Time-wise nearing completion
1] Medium term downward channel intact
2] Meeting the longer term mean of the cyclical curve [green dotted line]
3] meeting the longer term buy zone/ log growth curve
Fibs
1] An 'ideal' 50% retracement still on the cards
2] Time-wise nearing completion
This could be it. The last move down, and then off to the races. Dry powder left? Buy in the buy zone [grey shaded area].
Over 50% of the one day pump retraced already. The hot money/ trading money that buys also sells, and so it's the longer term trend that is more sustainable. The medium term downward trend about to meet the long term trend.
Daily momentum down. Weekly momentum down.
As per the first post of this thread, looks like we're getting a long slow grind down. A good month or so before the trend turns around looks likely...
Only 1K off the buy-zone. Now near twice as expensive as previously.
Just a reminder. On the basis of this double fractal, which has served well so far, the present correction could well be complete next month/ Dec. Close to the wire here, where I think a larger symmetrical triangle will dominate once the downward channel is broken.
Price is currently exactly in the same place in this grid as comparable to the break down from 6K to 3K - half way between 0.23 and 0.38.
The good and bad.
Daily MACD crossed into bear territory below the zero line, plenty of room for the RSI before it gets oversold, but nearing a trend change once price hits the buy zone/ log growth curve.
Next chart will focus on the various factors of support at a lower level
Daily MACD crossed into bear territory below the zero line, plenty of room for the RSI before it gets oversold, but nearing a trend change once price hits the buy zone/ log growth curve.
Next chart will focus on the various factors of support at a lower level
100 MDA re-crossing the 200 MDA. Momentum down. But notice the MAs are/ were not so steep - price in the macro is less volatile and coming into the curve.
And on the weekly.
The 100 MWA [2 year] now moving down to meet the 200 MWA [4 year] [this correction has now been 2 years long]. Down within the channel and sideways within the larger triangle forming. Four year MA now tracing the curve.
The 100 MWA [2 year] now moving down to meet the 200 MWA [4 year] [this correction has now been 2 years long]. Down within the channel and sideways within the larger triangle forming. Four year MA now tracing the curve.
Half-way there...
Could see the bottom in soon according to this fractal that I've been working with since July...
Looking for one last push down....
Back in the buy zone.
