Howdy!
This is a follow-up to my two previous ideas -Jasmy measured move played out, and Jasmy buy zone incoming.
As we've seen, the descending triangle measured move has played out. The thought behind that is in the measured move idea.
I'd pulled some fib extensions based upon the bearish breakout from the descending triangle. They had the potential bottom projected around .00289ish. Upon looking into the fib extensions further and adjusting them - they actually fit quite well with the 4.236 already being reached around .00419ish. You can see how well they fit in this idea.
So far that is 2 check marks.
We did observe a few days ago that a local base was being established as a potential short term bottom - that did play out.
We have closed with a 2 day doji, followed by a 2 day Hammer. We have closed a 3 day Doji. We could technically call the most recent 4D close a doji as well IMO. We need confirmation.
Obviously we are heavily oversold, and are at all time lows for the JASMY price. If we can sustain this area with upward momentum, then the daily RSI can probably rise above the 30 level, and we can hopefully start a huge recovery rally. That momentum can obviously carry over into the 2d, 3d, and so on.
This current daily close looks to be quite important!
This is a follow-up to my two previous ideas -Jasmy measured move played out, and Jasmy buy zone incoming.
As we've seen, the descending triangle measured move has played out. The thought behind that is in the measured move idea.
I'd pulled some fib extensions based upon the bearish breakout from the descending triangle. They had the potential bottom projected around .00289ish. Upon looking into the fib extensions further and adjusting them - they actually fit quite well with the 4.236 already being reached around .00419ish. You can see how well they fit in this idea.
So far that is 2 check marks.
We did observe a few days ago that a local base was being established as a potential short term bottom - that did play out.
We have closed with a 2 day doji, followed by a 2 day Hammer. We have closed a 3 day Doji. We could technically call the most recent 4D close a doji as well IMO. We need confirmation.
Obviously we are heavily oversold, and are at all time lows for the JASMY price. If we can sustain this area with upward momentum, then the daily RSI can probably rise above the 30 level, and we can hopefully start a huge recovery rally. That momentum can obviously carry over into the 2d, 3d, and so on.
This current daily close looks to be quite important!
