CFX up to Weekly / Monthly resistance, finish correction @ 0.24

28 มี.ค. 2023

I expect a pump to 0.38 - 0.41 (Weekly SR lines are red, Monthly SR lines are yellow). Then rejection with final support at Weekly / Daily (white) confluence around 0.24.

HOWEVER... we are at monthly support now. It's possible the correction is over. Just doesn't feel like it. Any sharp upward moves are likely exit liquidity and should be faded.

28 มี.ค. 2023

บันทึก

Correction... I'm looking for a pump to the confluence of Monthly / Weekly resistance at 0.41-0.42. These are the yellow and red lines.

If CFX turns up here at monthly support it makes sense for it to test monthly resistance.

But we have to get past daily resistance at 0.38 first (white line where my path line peaks)

28 มี.ค. 2023

บันทึก

There's also a good chance we get stuck in a range here (easy to spot on the 1h) for a few days. That could be constructive. I'd rather see a base built, then we can look higher more confidently.

28 มี.ค. 2023

บันทึก

AAANNDD... we just got rejected from the top of the range. However it looks like the rejection may not stick. I'm not selling... yet.

29 มี.ค. 2023

บันทึก

I'm out for now because I was in a 3x ETF. Looks like we spiked the daily, may come back 10% (30% drawdown if I stay in). Looking for reentry around 0.355. Hope I don't miss it, I'm questioning whether we get a more significant correction after that very impulsive run yesterday.

29 มี.ค. 2023

บันทึก

Back in at a higher cost basis. The way it consolidated and is starting its push, I don't see a 2¢ pump being sufficient. I don't think Monthly resistance can hold it back. It has to push through this trouble area, then a straight shot to ATH in my opinion.

29 มี.ค. 2023

บันทึก

Tagged the monthly, slight rejection, now we are chopping at it on the LTF, feeling confident

29 มี.ค. 2023

บันทึก

Unless this is a spike and fakeout, monthly is dying fast. On to the weekly resistance at .419.

29 มี.ค. 2023

บันทึก

And now resistance at the weekly... no surprise, but it looks like we will get through it. Maybe not on the first try.

29 มี.ค. 2023

บันทึก

Hard rejection, now looking like it's going to blow through that resistance too (formed by old wicks on the daily)

29 มี.ค. 2023

บันทึก

Got through it, now retesting.
At some point this thing has to wind sideways, at which point I'll probably put it all in a 3x ETF XRPUSDT.

29 มี.ค. 2023

บันทึก

My plan now is to sell for a double top at 0.48, then buy back at monthly support 0.41. Then ride to 0.84 for another double top.