HEX / USD COIN on Ethereum (0xF6DCdce0ac3001B2f67F750bc64ea5beB37B5824)

롱

HEX potential wave count

업데이트됨

HEX chart looking really nice, after massive selloffs some great rallies will ensure. No way to get the exact bottoms or tops, best strategy from my POV is simply counting the waves and focusing on target range to apply DCA strategy to divide your buy in into multiple orders (3 works good imo).
I got in at approx 3.2 c and paitently waited for this drop (missed the previous one. Thing about HEX its not traded on C'ex (yet) and it doesnt fully follow BTC price action.

Nonethless it has had some great rallies and worth taking positions at the oversold extremes.
Wave count can have few different views as I share them for pov to consider

NFA . DYOR.

Just sharing ideas. Feel free to leave comments, hit like to show support and if you manage to hit targets from these ideas, please let us know.
Tips are always welcomed :)

Thank you for viewing, sharing and safe trading to you all!

노트

potential alternatve count which doesnt sit right for me, the (3) looks way to small compared to the (1), but its possible

노트

if this wave count is correct, than wave (4) bounce can retrace up to 0.382 the move from start of wave (1), which could take us to 10c-15c area.

노트

Im slightly bias in favoring THIS count as more likely wave count. Regardless, the importance of DCA to enter trades and set up take profits are vital. We are still in a bear market only 7 months in and possibly still a very long way to go. Lets bank some profits on the way down too! Long/Short, countertrend trading, get a lil piece of every pie why not!?

노트

another potential count to consider

노트

adjusted wave count. we did hit the 0.236 favor the recent top as a 4. so now we play the waiting game for projected wave 5 of (3) to complete within the pink lines (should not breach below the 1.618 otherwise we must favor it as invalid count). Play safe, dont over-invest, use risk management always and DCA to help average down the same way you would take profits on rally bounce. Its a bear market, remember that, this doesn't end when we want it to, it ends when market decides and that can take days weeks months or years; doesnt mean we cant bank profits on the way down.

노트

I took my profits early and exited 100%, didnt even a lil moon bag. Will consider starting to build new position on retest of the lows.
HEX had GREAT runup since. Our wave count was good enough, not perfect but close, bit tricky with all the wicks but in general we had a great projection and count with target ranges and played out great from below 2c to 13c. Didnt get the exact movement but very close

노트

alternative wave count
either way, there is no solid buy in levels at these highs and upside is most likely limited, however market can easily decide it wants to go much higher. We will take our chances and stay out for now until we get more clarity and better buying opportunities closer to the lows.

노트

we made the RIGHT/GOOD decison in labelling the move as a wave 4 and to exit early. Look what happened after:

노트

This area has LOTS of buyer support and lots of heavy trading.
We're looking to take small trades in this area off the lows for the short term, possibly leave some risk free or low cost moon bags in the balance (can use to add it towards building a larger position over time).
Right now, there is no real clarity on the wave structure. Can be viewed as an ABC in the process or just the beginning of a larger degree correction. Time will tell. But we can anticipate some nice bounces off the lows towards trading for profits.

노트

So we made another great call on exiting HEX and awaiting for larger correction to retest the lows. Given the current move down being very large, am going to favor the move up as a wave (4) instead of a wave ((4)), with the current move down as a wave (5) in process of completing wave ((3)) - this could be wrong so bear in mind. Im using probabilities here given that HEX just dumped ~95% from the previous high/top, making it way to large a move for a first leg and not even pivots to consider it full set of 5 waves. we're gunna be paitent watching HEX play out; Ive been building a position DCA style and hopefully you have too. HEX under $0.01 is a GREAT buying opportunity for anybody even if youre just trading for profits.

노트

Looking at current move something like this. It doesnt seem to be complete yet and could still have further downside, however am anticipating lots of volatility and trading before the move down is completed.
Volatility = opportunity
if you zoom into the low time frames ei 5mins or 1 min, can see so many 5%-10% moves taking place, and all those moves are banking opportunities, so have some fun while HEX trends lower to figure out where it will complete its move down. dont forget, from the previous high we're trading at a -95% discount so sure it can sink lower but a big move up is going to happen sooner or later (before resuming to bigger discount).

노트

The bearish view/count, which I disagree with can be considered. I do favor a move up before completion (iv) the green line, but the rest of the count and move down I simply dont agree with it, but we will simply keep in mind in case it does play out.
wave (iv) retrace should be a minimum of 0.236 retracement and wave 2 should retrace no more than maximum 0.764. We will keep this in mind for trading/taking profits

노트

The $ and best trading areas is in this area IMO

노트

we wanna avoid being overly bearish or too comfortable with returning to the lows, the count can easily just play out similar to this

노트

still incomplete in my view.
taking much longer than anticipated which tells me that large wallets are accumulating large positions by trading back n forth.
Currently I can view it like this, but to be fair and modest, I want to minimize my bearish outlook at these lows

노트

HEX took a relative big hit ~ -97% from the cycle high.
with the lawsuit from SEC, it puts things in a different perspective. Bit ironic how the lawsuit got headlined near the lows, it was following our EW projection quite well regardless of the lawsuit, but with this we now have to consider whether investing/holding is worth the risk, at least until some clarity comes to light positive news.
For now, we will favor wave ((3)) as completed with a corrective rally started.
I will look to derisk and exit somewhere between 1c and 3.5c as my view is this has become a high risk asset to hold onto, there are plenty of assets/coins to trade. We shall see how things play out moving forward.

노트

we didnt get the exact move, but we got the idea pretty good.
However there is now some extra caution to take

노트

wave 3 potential ending here on HEX

massive discount of -97% from pivot high of 13cents.
accumulating some here is a good area if you are bullish on HEX, just keep in mind that HEX is facing a major lawsuit from SEC so if we continue lower or the rallies are weak, there's that to consider.
Time will tell

노트

well well well, what do we have here :)
went bit deeper than anticipated, of course the SEC lawsuit added to that depth, we were anticipating a large pullback after a massive 2023 bullish rally to start the year, we then got more than a -90% discount on HEX which has rallied +80% off the last low

노트

we're gunna use the previous pivot high for fib retracement targets (instead of the 2023 high), the reason is to increase our probability for targets (to bank profits quicker) in case the move down is incomplete. Its a trick I learned that sometimes is more effective.
Target is typically the 0.236 to 0.382 area. Its good to establish targets so we know what were looking for and so market can fill our orders.

vs.

노트

targets based on local resistance (these are areas that where bought and sold on the way down, there are many hodlers who have their positions trapped/at loss at these areas (any chart is like this), so we can expect seller pressure at those areas
Think about it, if you bought there, then see it dump, then pump back up, you would think " I should offload here to break even and make my money back in case it dumps again then just wait for buy again at a lower price"

노트

great time and place to take some profits (we're overbought, so anticipaite a 3wave pullback at some point before impulse higher)

노트

HEX projection to keep eye on
Anticipating a heavy BTC dump to spark a massive alt rally (I could be wrong too)
Risk:Reward seems well worth the risk, esp if we get a big BTC drop

노트

An alternative view that may play out IF we re-low

노트

absolute rocket!
if we close above, favors the low is in with main target to retest previous high ~13c
minimum target 3.3c before any retest of the low (an area to consider banking some profits)

노트

this *COULD* turn into a massive rocketship
this is the hex/weth pairing (for those trading between the trynna build bigger bags)
been watching this for a while anticipating similar move as show on left side
IF this plays out similar, we can anticipate a massive move up for approx 2000% ROI from the lows

if could happen fast it could happen slow, make sure youre prepared to bank profits

노트

USDC pairing shows similar
Not saying it will, just saying it could.
uncertain as to whether "th bottom" is in or not, a pamp is overdue.
will be looking to offload at least 25%-50% around the 8-10c area and a significant portion of the balance if we reach the 13c pivot high. Will only leave a small moon bag from there.
My outlook is that the 13.4c pivot high is the target and will get taken out before a massive dump to retest the low followed by a VERY aggressive bounce and rally.

노트

dont Give up on HEX
its making local bottom just gunna take time now
can see similar patter to btc bottom and sol bottom

Im encourage do some aggressive active trading at these lows to accumulate while theytrade back n forth, these small moves creat large gains fast, u can pile a f*ckload of HEX coins for low cost. Keep in mind, previous ATH was $0.52
so 2million HEX coins @ $0.50 gets us to
NFA.