Hi Luc,
such a great post, it really has me motivated to give it my all for the next 12 months.
I am really new to crypto and found your videos a little while ago & want to just say thank you so much for all the free content you are putting out there. There aren't many gems like you out there so we all appreciate it. I have a couple graph q's. No pressure whatsoever , I know you're busy!!
Is this what you would call a disqualified base? Where there wasn't a bounce after the panic? Does this mean that we should be cautious about buying?
Is it okay to play off of the 1st base here? Or should I have waited until the 2nd base cracks before I buy?
Thanks so much!
From my studies so far, I would say that the base on QTUM at 42 is disqualified since the immediate bounce was weak (only 5%). If anything, that base would be at 45, where we saw a 15% surge, and where we did later see a bounce after the crack.
The QTUM base at 32 looks good (and the price action confirmed it).
The 15 base for POLY was good, but I think was already cracked on the 20th, so the new base like you point out is just over 13. But then the circle you have isn't a safe circle since it doesn't correspond to the lowest recent base.
Feel free to correct me if I am wrong Luc!
Wow such a quick response, thank you danny! Appreciate your insights, really looking forward to being apart of this community & learning together!
I would only add that it may help to scroll out and look at a bigger chart. This coin does make some big bounces, it does show great participation, but I agree that there are better bases on this chart then calling .042 a base...
Thanks for the reply Luc!
Just to clarify,would it be correct to say that if a recent base has a much smaller bounce and lower volume than previous ones, I should only really nibble? And wait for a bigger bounce to go for some size?
For example, here the most recent base has a lot less volume and bounce.
Thanks again!!!