ADA: Dev delays are an issue. From a chart perspective, we were holding an important level for the last week. The $1.778 level which was the halfback of the large move from August to October. But we lost that today (keeping in mind that "today" in terms of cryptoworld is not yet over. Not until 1800cst when the daily candle closes so take all analysis with a grain of salt).
From a fib perspective, losing that halfback gives us ONLY just the 0.382 level at $1.5598. This level is essentially the last stopgap before a true trend reversal is inevitable. It is also an area that large investors, whales, and institutions see as a place to load up on long-term holds.
All this to say that I won't cut it unless we lose the 0.382 level and I will most likely add at that level. Theory: "blood in the streets and all that"....
If we lose that level on a meaningful timeframe such as the daily or the weekly with volume, I will cut my losses and look to get in around a buck again.
It is hard watching everything else go up while a big investment stagnates, but this is investing and this is the game we play.
From a fib perspective, losing that halfback gives us ONLY just the 0.382 level at $1.5598. This level is essentially the last stopgap before a true trend reversal is inevitable. It is also an area that large investors, whales, and institutions see as a place to load up on long-term holds.
All this to say that I won't cut it unless we lose the 0.382 level and I will most likely add at that level. Theory: "blood in the streets and all that"....
If we lose that level on a meaningful timeframe such as the daily or the weekly with volume, I will cut my losses and look to get in around a buck again.
It is hard watching everything else go up while a big investment stagnates, but this is investing and this is the game we play.