SteadyCompound Note 09.09.24
analysis
- price is still relatively "high" at +50k range but consolidation is prolonged hence all STF technical are all ready under water turning bearish
- only weekly now at the touch for EMA, which can be a support for a bounce i.e it either bounce here for relieve, otherwise if broken, that's one of the worst scenario. so decision point is near, with liquidity problem, hand on there (currently similar to HTF of 2021)
- however, on LTF, price is weak under water. silver lining is Daily time frame is testing support with higher low (reminder low was 49k, a test around low under 55k is understandably expected)
strategy is
- hold on to position based on weekly time frame
- watch out for daily, do I want to scalp around ETH (ETH is very very weak under consideration that ETH is live), SOL turn out to be much better alternative with price holding +$125, whereas ETH is already 30% down from $3300 to $2300. A scalp from ETH to SOL at range low is prudent or not ?
- blessing in disguise with own fund. let's just wait. think from another perpspective of already secured land/deal. take the time
- if price crash, which break low 49k, then need serious reconsideration of both trading/investment plan and use of fund plan (but it may take time because price is still around 55k and mkt is slow)
- price is still relatively "high" at +50k range but consolidation is prolonged hence all STF technical are all ready under water turning bearish
- only weekly now at the touch for EMA, which can be a support for a bounce i.e it either bounce here for relieve, otherwise if broken, that's one of the worst scenario. so decision point is near, with liquidity problem, hand on there (currently similar to HTF of 2021)
- however, on LTF, price is weak under water. silver lining is Daily time frame is testing support with higher low (reminder low was 49k, a test around low under 55k is understandably expected)
strategy is
- hold on to position based on weekly time frame
- watch out for daily, do I want to scalp around ETH (ETH is very very weak under consideration that ETH is live), SOL turn out to be much better alternative with price holding +$125, whereas ETH is already 30% down from $3300 to $2300. A scalp from ETH to SOL at range low is prudent or not ?
- blessing in disguise with own fund. let's just wait. think from another perpspective of already secured land/deal. take the time
- if price crash, which break low 49k, then need serious reconsideration of both trading/investment plan and use of fund plan (but it may take time because price is still around 55k and mkt is slow)
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