2024-02-11 21:49:27
$ADA 2017-2020 & $KSM 2021-2024
We have the same
Double Bottom structure
(first bottom syncs with the #BTC bottom, second bottom is slightly lower while #BTC stays well above its bottom) and a
small Mid term Rally between them. All this action is just a
long horizontal Accumulation.
You may ask so when is the best time to buy? Bottom 1 or Bottom 2?
Bottom 1 is a good buy zone, however you better buy #BTC there. Bottom 2 is a Perfect Buy but you never know how deep it’s gonna get. I think the most confident buy is when we see the
Structure change.
What’s that Structure change I'm talking about? Well, it’s basically
the first Significant Higher High that breaks the high of the Mid Term Rally between Bottom 1 & Bottom 2.
But we don’t buy the top, do we? Of course we shouldn’t buy the ‘Significant Higher High’ top. We should wait for a pullback, usually
0.618 Fib is a great buy.
$KSM is a perfect example. All those phases are present.
ADA: 934 days from the Bull Market Top to the Structure change;
KSM: 952 days from the Bull Market Top to the Structure change.
So what we have now: $KSM (it can be any other #Alt) created the first Significant Higher High since MAY 2021! That’s something to think about. Consider changing your bias if you’re still a bear waiting for a lower low.
$KSM has already pulled back to
0.618 Fib and still trading around it (the same what $ADA did in 2020).
I think it’s a good opportunity to start scaling in if you’re still sidelined. Zoom out and don’t be greedy!
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