I assume the current corrective structure (-4° channel) to be the second wave of wave c of a larger degree - which might either play out in a three wave structure or an abcde five-wave structure, followed by an impulsive break to the downside. The levels I am keeping an eye on are $0.65 (key support) and $0.45.
$0.45 acts as a heavy confluence area, as it is not only the absolute trough of former wave 2, but also a daily and the -27.2% fib target of (a)(b).
For now, I'm absolutely not interested in opening longs, but in case price proves me wrong, I'll be waiting for an impulsive upside move on the 1H - favourably with a break & close above $1.72 - and would look for a buy opportunity after a pullback.
Unless we'll see a huge spike to the downside, price must hit $0.45 no later than the end of the 1st week of February and $0.65 no later than the 2nd week of February - assuming price proves me right. However that's all quite speculative. As said in my previous analysis, I'm simultaneously monitoring BTCUSD -5.93% , as the correlation is still quite strong. 8.2k-7.8k is the potential buy zone, I've marked on the chart. The link to the BTC -5.93% idea is attached below.
Definitely my favourite quote. Try to see the storm coming before the mainstream does and get rid of your positions before everyone else does. You can't go broke making a profit. A good example is a trade I took on EOS in November. I closed the position with a +15% gain as my projected target has been hit. The very same day, EOS continued to rocket +50%. But guess what, I didn't care. Honestly. Of course, it would have been nice to make another +50% the same day, but we're not Nostradamus and the only thing that counts is how much you've made at the end of the month. +211% at the end of November. That's how much I've made. I could have even made +300-500% but so what? If you repeat a +200% gain a month five times a year alone with a starting capital of 10k you'll be making +2.4 Million USD. This is absolutely realistic IF and only IF you're patient enough to not act during such heavy corrections as the one we're witnessing now. Safe trades!