Gm frens - Was anyone else 5 Pisco Sours down pretending to be present at a restaurant while watching net worth swings, last night? 😝 Looking at the charts, first thing i think is - there couldn't have been a better moment to discuss Fibs than this week. Let's talk dips..
Historically speaking, deep rinses into key S/R levels confluent with Fibs + the area in between 1D 100 & 200 EMA's are a godsend in bullmarkets. TOTAL2 and TOTAL3 giving their first real dips since 'up only', right into those key areas as we speak.
Does that mean we buy everything here? imo, there is nuance to it. There are some coins, that have completely lost structure: - Breakdown of significant S/R - Breakdown of 1D EMA's - Breakdown of fibs
I personally scratch these from my watchlist UNLESS there is a fundamental reason for me to be interested in these in the upcoming months.
Then there are other coins, that looking much better, with at least a 2/3 score of the following: - Dump into significant S/R and rough hold - Dump into a nice 1D EMA structure (we are interested in the area between 1D 100 & 200) - Dump into golden fib pocket (0.618-0.707)
Then we have things like $INJ with a 2/3 score (EMA structure broken) but retesting a HUGE level aka previous ATH.