شراء
$CLOAK.X Potential Breakout
تم تحديثه
Nice cup and handle forming here. Trying to find the bottom of this correction. Once it does we can see some nice gains from CLOAK. It's a risky trade to get in now as it's still correcting but the MACD and RSI suggest it's close to bottom. This coin has been on Binance about a week now and they tend to moon within 2 weeks. The general pattern is pump/dump/bottom/consolidate/moon. Watch closely for the bottom to come soon. It will likely consolidate a little after which will make a good entry point. This trade will also rely heavily on BTC stability.
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We may have hit the bottom here of the handle. Its makes sense with my EW count. Look for an ABCDE consolidating formation as seen below:ملاحظة
Also, watch BTC closely. If BTC dumps or pumps drastically it can throw us out of this consolidation to a lower support.ملاحظة
This trade requires patience. If you’re not willing to hold through a loss do not enter yet. Of course, the other side of that is you could miss the run. Play at your own risk and always have a strategy.ملاحظة
Consolidating nicely. ملاحظة
We're getting some nice movement. This is just the beginning. I'm holding!ملاحظة
There are two options that can play out here according to Elliot Wave theory. On the bigger picture we have either started wave 3 up (yellow) and are on subwave 2 retracement (dark blue), or we have not finished the big wave 2 (yellow) and are on subwave C retracement (light blue) on our way to finish wave 2 lower. Considering this a new a Binance listing and the coin has good fundamentals, I'm leaning bullish which would go with my original chart. But I wanted to show both options so anyone in a trade can be prepared for the bearish scenario. We should know in the next 12-24 hours which scenario is playing out. ملاحظة
We're getting strong support at 16k sats and the current 4hr candle is looking like a dragonfly doji reversal candle. We will know soon but a wave 3 up looks to be incoming. ملاحظة
Moon launch is delayed as BTC corrects. Short term bearish scenario I talked about is playing out. I've updated my EW count for the current situation. I'm still bullish and holding as I got a nice entry, but DYOR and do what works for your strategy. ملاحظة
BTC moving is really affecting this. CLOAK does not look good at the moment and I expect BTC to rise higher. I sold here and will look for a lower re-entry.ملاحظة
CLOAK showing bullish divergence: ملاحظة
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Possibility: I'm still holding. This is a longer term play for me but DYOR
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Binance announces a CLOAK volume competition 5/17 - 5/23. Hold on tight for increased volume and volatility. This is a whale's contest so be very careful if you're trying to flip. Contests are a pain in the ass but it will get this coin the exposure it needs.
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