I'm big fan of lengthy and clean ranges. Therefore I can't ignore this. You can choose to trade the breakout. But it definitely looks like a cause building for a new uptrend.
Btw I just looked at what Ordinals do. I absolutely love it. Lord's work ;)
Btw I just looked at what Ordinals do. I absolutely love it. Lord's work ;)
Comment:
Technically this can happen too. That'd be just better.
Comment:
What would ruin it? This. Aggressive breakout. Spends some time above the range. Aggressive push back into the range.
Comment:
In my view this should be the only way to ruin this chart at this point.
Comment:
But I can't see that coming because I can't see a sign of weakness.
Comment:
Saylor supports Ordinals? What the actual fuck? Alright sorry Saylor. I love you. You are the lord and the savior.
Comment:
This is another possible setup. I'd love it. Breaks the diagonal runs the lows. So I think betting big on this *right now* is not very smart considering this is a very real scenario. If you still wanna do it, this can be something to keep in mind to manage your risk.
Comment:
TA is risk management. At this point this chart says "maybe". There will be a time for a high conviction trade on this. Up or down. But not now.
Comment:
This is why we care about things like SOS, springs, uptrend above a significant range etc. Price at a random point in the range shouldn't give you much confidence.
Comment:
Consequently sometimes buying higher is better.
Comment:
PEPE in the same place for example. I'm all for memecoins :D But this can be the case.
Comment:
This is also why I say often "I buy more as I get more confident."
Comment:
You can see scam is carved into the heart of whole crypto but it's still fun :D When you go try to figure out "What this chart actually means IRL?", you run into another rabbit hole. I stick with charts. Charts tell you the truth. Only you should know how to not ruin yourself in the proccess. Again, this is a promising chart. It says "pay attention" But we'll see.
Comment:
I'll buy the mentioned scenario above. Roughly 40s.
Comment:
ATM I have no exposure to ORDI. The scenario I'm talking about is this. 45 key imo. If it doesn't do this I'm not interested because it's volatile, it's weird. Potential is there but no signs of sustainable strength at this point.
Trade active:
I'm short ORDI. 67 entry / 70 stop / 45 TP
Comment:
This and the volatility is not something you wanna see in reaccumulations. So I thought why not try a short instead. Good RR. Clear target.
Comment:
I follow ORDI in this new thread fyi. I didn't make it look this heavy. It deserves being on that idea lol. We'll see how 40s react.
