Updated
Poly analysis request
Hello guys,
This analysis is pure TA. Someone on my twitter requested an entry level for this.
This chart is looking really good, as this coin is on a very high uptrend. I suppose there is some hype to it.
The best entry level would be at the resistance level I drew in green for the E target of the Elliot wave, which in my opinion will be the bottom. This will also coincide with a low RSI and a good fibonacci retracement.
You can also play out the Elliot wave bounce and sell at the D target to short the E, and buy back at the resistance. I'm not a big fan of Elliot Wave, but they do apply in crypto as a lot of noobs trade.
Good luck trading
This analysis is pure TA. Someone on my twitter requested an entry level for this.
This chart is looking really good, as this coin is on a very high uptrend. I suppose there is some hype to it.
The best entry level would be at the resistance level I drew in green for the E target of the Elliot wave, which in my opinion will be the bottom. This will also coincide with a low RSI and a good fibonacci retracement.
You can also play out the Elliot wave bounce and sell at the D target to short the E, and buy back at the resistance. I'm not a big fan of Elliot Wave, but they do apply in crypto as a lot of noobs trade.
Good luck trading
Note
Nailed !
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.