Art of the Chart - TAking Requests!
Welcome back traders!
Hope you’re weathering this dip OK, and aren’t stressing too much. I have a strong confidence that this is not the top, and that we’ll be moving up again soon. Most over-leveraged market participants already got cleaned out from the previous dip not too long ago and are being more careful now. There was no real catalyst for this move down. Elon tweeting, Binance investigation, blah blah blah…. I don’t buy it. None of that has teeth enough to have caused a change in the fundamentals. So hang tight, and stay on the safer side of things (Spot) until we get through this.
In my previous AotC TAking Requests post, I said, “Don't gauge yourself on day-to-day profit or week-to-week profit. There can be down weeks, or even down months. Gauging yourself based on those time parameters will just drain your mental capital. When your mental capital is drained, your mind will whisper, ‘You're not good enough’, ‘You can't actually do this, who are you fooling?’. Don't get to that point.” I hope you took my advice and have not allowed yourself to weight current sentiment so heavily, and instead, have zoomed out a little.
As far as trade opportunities are concerned, I have been buying up GRT here. We have a Bull Flag, within another Bull Flag, within another Bull Flag. Patterns that become stacked like this do not just “dissipate” and evolve into nothingness. This will break, and I think this is close to the floor; we’ve rejected this $1.325 area 4+ times now, and it’s held every time. I’d say there’s an 85%+ chance that we’re going back to the prior ATH of $2.89, which is over a 100% gain. Do with this information what you will.
That’s all for now. You know the drill: please toss your requests in the comments below, and I’ll analyze those pairs in next week’s episode.
Until next time!
Disclaimer:
Cryton Capital is not a registered investment advisor, legal advisor, tax advisor, or broker/dealer. All investment / financial opinions expressed in any-and-all posts on this page, including screenshots & captions, are from the personal research and experience of the owner, and are intended to be interpreted as educational material only. Although best efforts are made to ensure that all financial charts and commentary are as up-to-date as possible, there may be times where price moves beyond key levels before the chart can be posted. Alas, this is part of the fast-paced financial sector and cannot be avoided. Also, occasionally unintended errors and/or misprints may occur.
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I don’t like holding my breath for between posts. I’m not cut out for this. But what’s the alternative? You giving me your number? Me giving you access to my wallets? No seriously, which would you prefer?
Thank you as always, Chris.
Thank you for the reassuring words. As a new trader these dips have been very scary and making me question if we are entering bear market (I am new so it's hard to tell what dips are temporary vs long lasting).