CKB// Cone Idea
Saw a few cones formed over the past week so Im anticipating the same pattern forming on CKB.
I didnt see any cones this wide...regardless price is still on an uptrend overall and currently within a descending channel. The next few candles will be an optimal time to enter given that price action allows us that option.
If price falls and closes below the trendline, then at that point we will know with minimal risk that price is then more unlikely to continue the uptrend at the previous frequency.
What to do:
Wait for price to break outside of the descending channel AND retest. Once price gets above the second pink zone, closes, and finds support, then at that point I would consider this a safe trade.
However if you have a large risk appetite, now is a good time to enter.
This is not financial advice...but if I was a YOLO degen...now would be the time.
I didnt see any cones this wide...regardless price is still on an uptrend overall and currently within a descending channel. The next few candles will be an optimal time to enter given that price action allows us that option.
If price falls and closes below the trendline, then at that point we will know with minimal risk that price is then more unlikely to continue the uptrend at the previous frequency.
What to do:
Wait for price to break outside of the descending channel AND retest. Once price gets above the second pink zone, closes, and finds support, then at that point I would consider this a safe trade.
However if you have a large risk appetite, now is a good time to enter.
This is not financial advice...but if I was a YOLO degen...now would be the time.
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