Chainlink Link/USD
Testing/Tracking Elliot Waves. Please do not trade without a stop loss.
This chart is a bit sloppy since there's so much info in it. If you have been following along my previous charts or know how to read my charts by now then this is an easy read for you.
For those that don't I will break it down for you. From the top of this Juglar cycle wave 1 we have gone through a -90% drop already AND we are still around that same price level. This is an amazing buy opportunity.
When we enter a bear market most coins will go through a 90-95% drop ( some 98%). Currently we have the ABC wave priced in, if that is the bottom then this 90% drop was it. However, we still have a possibility of this WXYXZ wave playing out, if so we can still get that -95% drop.
The recommended play here would be to DCA. If this was the bottom you only have up to go from here. If you hoover over to the green/red box you will be able to see your Risk/Reward ratios. The stop losses are placed a bit under the next leg down. If you're buying here at the -90% drop then
your stop loss is placed under the next support at -95% and if you're DCAing or buying at the next dip (if any) then your stop loss is set right underneath the next support line at a -98% drop. A -95% drop is about less than a 20% chance and -98% drop is less than 5%. We don't usually get these price level drops for good coins
They would only go that low if you're holding on to a really shitty shit coin.
Your R/R ratio at -90% drop is 17.5; potential upside gains of 1,148%
Your R/R ratio at -95% drop is 46.2; potential upside gains of 2,789%
Both target are for the same wave 3 top at around $85.
The last thing I want you to look at the RSI levels. This chart is on the weekly timeframe . Imagine this coin coming out in 2017 being $0.07 and ranging between that price up to $4 for the next 3 years and the RSI levels have never gone as low as it have today. What does that mean? The people who invested in this coin in 2017 had more faith in it in succeeding than the people who are in it today. That's bat shit crazy. 5 years later and you're telling me that we have less faith in this coin? The RSI levels have never been this low for link in it's history since creation. If the bottom for this coin is not in then a 46.2 Risk/Reward ratio is fucking amazing. Getting some here is an amazing opportunity, getting some even lower is heaven sent. This is not financial advice.
This chart is a bit sloppy since there's so much info in it. If you have been following along my previous charts or know how to read my charts by now then this is an easy read for you.
For those that don't I will break it down for you. From the top of this Juglar cycle wave 1 we have gone through a -90% drop already AND we are still around that same price level. This is an amazing buy opportunity.
When we enter a bear market most coins will go through a 90-95% drop ( some 98%). Currently we have the ABC wave priced in, if that is the bottom then this 90% drop was it. However, we still have a possibility of this WXYXZ wave playing out, if so we can still get that -95% drop.
The recommended play here would be to DCA. If this was the bottom you only have up to go from here. If you hoover over to the green/red box you will be able to see your Risk/Reward ratios. The stop losses are placed a bit under the next leg down. If you're buying here at the -90% drop then
your stop loss is placed under the next support at -95% and if you're DCAing or buying at the next dip (if any) then your stop loss is set right underneath the next support line at a -98% drop. A -95% drop is about less than a 20% chance and -98% drop is less than 5%. We don't usually get these price level drops for good coins
They would only go that low if you're holding on to a really shitty shit coin.
Your R/R ratio at -90% drop is 17.5; potential upside gains of 1,148%
Your R/R ratio at -95% drop is 46.2; potential upside gains of 2,789%
Both target are for the same wave 3 top at around $85.
The last thing I want you to look at the RSI levels. This chart is on the weekly timeframe . Imagine this coin coming out in 2017 being $0.07 and ranging between that price up to $4 for the next 3 years and the RSI levels have never gone as low as it have today. What does that mean? The people who invested in this coin in 2017 had more faith in it in succeeding than the people who are in it today. That's bat shit crazy. 5 years later and you're telling me that we have less faith in this coin? The RSI levels have never been this low for link in it's history since creation. If the bottom for this coin is not in then a 46.2 Risk/Reward ratio is fucking amazing. Getting some here is an amazing opportunity, getting some even lower is heaven sent. This is not financial advice.
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