לונג
MTH/BTC possible Elliot wave 2 completion approaching?
Hi guys, just playing around with Elliot waves in MTH/BTC or Monetha. Whether my TA is correct or not Monetha is a great project with A LOT of room to grow.
Due to the lack of history and the quite low market cap of Monetha i believe the previous run up is likely to be the first Elliot wave in a primary cycle with wave 2 displaying a lovely ABC correction. Wave C looks likely to test and most likely hold at 0.618 fib retracement like in wave A forming a double bottom. RSI indicates that we are not in the over sold region yet which but this will likely change when we touch the fib.
Due to the RSI I may have to go fishing with my position however i feel 0.618 buy level is a safe bet as long as btc stops being mean.
BUY RANGE: 0.00001850-1950 (0.618 fib)
STOP LOSS: 0.00001700
As for profit targets i am not setting any as i'm planning on holding onto this coin for semi-long term as it has a lot of growth potential with a market cap of only 50mil and a first product release on the 31st of march i believe as well as coming into a potential wave 3 this could be a very good mid to long term hold.
I am amateur at TA which is why i have a tight stop loss even though this is for comedic purposes only.
* This is not financial advise and is intended for comedic purposes only*
Any feedback is much appreciated.
Due to the lack of history and the quite low market cap of Monetha i believe the previous run up is likely to be the first Elliot wave in a primary cycle with wave 2 displaying a lovely ABC correction. Wave C looks likely to test and most likely hold at 0.618 fib retracement like in wave A forming a double bottom. RSI indicates that we are not in the over sold region yet which but this will likely change when we touch the fib.
Due to the RSI I may have to go fishing with my position however i feel 0.618 buy level is a safe bet as long as btc stops being mean.
BUY RANGE: 0.00001850-1950 (0.618 fib)
STOP LOSS: 0.00001700
As for profit targets i am not setting any as i'm planning on holding onto this coin for semi-long term as it has a lot of growth potential with a market cap of only 50mil and a first product release on the 31st of march i believe as well as coming into a potential wave 3 this could be a very good mid to long term hold.
I am amateur at TA which is why i have a tight stop loss even though this is for comedic purposes only.
* This is not financial advise and is intended for comedic purposes only*
Any feedback is much appreciated.
הערה
Rookie mistake we are actually extremely oversold on the RSI on the 1dayעסקה פעילה
Got the breakout if you followed my advice and easy 20% gain let's see how this develops.עסקה פעילה
Looking at the sell wall im taking 50% profits now.
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כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.