LINK I think
Looking at my 12h chart today I adjusted my LINK setup. LINK has been in an uptrend parallel channel since mid June, 2023 running a WXYXZ. I also have an impulse 12345 running.
I had initially thought the wave 4 was complete with the wave 5 happening early December (white circle) but pa didn’t reach my wave 5 target. I then readjusted my wave 5 to late December (blue circle) where it did “just” meat my wave 5 target.
However, neither of these scenarios worked well with my WXYXZ parallel channel concept. Today I had a look at the length/time period of the wave 2 which was about 53d. adjusting my length of wave 4 things looked a little better.
I beleive wave 4 is not complete with the wick of January 4 (red arrow) which looks a lot better for the WXYXZ pattern and is preparing to complete my wave 5 target area offering a possible/approximate 29% gain.
So I’m presently watching the lower timeframes (1h, 30m, 15m, 3m & 1m) for an entry. I’m using 20x in futures so with a liquidation margin of only 3.8% I have to be careful and accurate. I’ll post an update when I enter and how it’s going.
Of course, all this is predicated on BTC not doing something incredibly crazy today/this week what with the ETF stuff going on.
My thoughts, not advice Oklah. Cheers
I had initially thought the wave 4 was complete with the wave 5 happening early December (white circle) but pa didn’t reach my wave 5 target. I then readjusted my wave 5 to late December (blue circle) where it did “just” meat my wave 5 target.
However, neither of these scenarios worked well with my WXYXZ parallel channel concept. Today I had a look at the length/time period of the wave 2 which was about 53d. adjusting my length of wave 4 things looked a little better.
I beleive wave 4 is not complete with the wick of January 4 (red arrow) which looks a lot better for the WXYXZ pattern and is preparing to complete my wave 5 target area offering a possible/approximate 29% gain.
So I’m presently watching the lower timeframes (1h, 30m, 15m, 3m & 1m) for an entry. I’m using 20x in futures so with a liquidation margin of only 3.8% I have to be careful and accurate. I’ll post an update when I enter and how it’s going.
Of course, all this is predicated on BTC not doing something incredibly crazy today/this week what with the ETF stuff going on.
My thoughts, not advice Oklah. Cheers
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