$BTC crashed to its lowest since August on Friday, but NIGHT did something different and nobody noticed
$0.03988 +3.05% | H $0.04107 L $0.03850 | Turnover 1.06M | $BTC $75,645.7 -0.34%
That Friday when BTC was bleeding, NIGHT made a higher low at $0.0385. Last low in late October was $0.0354. In a red market that is the first thing I look for. It does not mean bullish, but it means sellers could not push it lower than last time.
Let me give you the full story. NIGHT went from $0.0229 to $0.0531 in less than ten days. That move made it famous. Then it got rejected at $0.0531 and again at $0.0527. That is where all the supply is sitting. Since then every bounce has been smaller and $0.0451 has stopped every rally for five weeks straight.
Now here is the part that keeps me watching. I pulled Fib across that whole pump. Both pullbacks stopped inside the same pocket, between $0.0380 and $0.0344. Buyers saved that same area two times. That is not luck, that is real demand.
Still, I am not calling this a reversal. Price is still under $0.0416 and under $0.0451 ceiling. Until we get a daily close above $0.0451, I am treating this as a range. Above $0.0451, next is $0.0460 and then that double top again.
My plan is very clear and patient. I am not buying $0.0399 in the middle. My limit is at $0.0380, right in that pocket. Stop is $0.0336, below that pocket and below $0.0354 low. First target $0.0460, final target $0.0527. That is $0.0044 risk for $0.0080 to first target and $0.0147 to final. In percent that is 11.58% down vs 21.05% and 38.68% up. If daily closes below $0.0354 my idea gets weak, below $0.0336 it is dead. If price never comes down to $0.0380, there is no trade, I am fine just watching.
Everyone chases the pump, I wait for the zone that already held twice. That is how I survive.
Tell me honestly, would you buy early at $0.0380 or wait for daily close above $0.0451?
Comment EARLY if you buy the pocket, WAIT if you wait for breakout.
Tap to trade this range $NIGHT
$0.03988 +3.05% | H $0.04107 L $0.03850 | Turnover 1.06M | $BTC $75,645.7 -0.34%
That Friday when BTC was bleeding, NIGHT made a higher low at $0.0385. Last low in late October was $0.0354. In a red market that is the first thing I look for. It does not mean bullish, but it means sellers could not push it lower than last time.
Let me give you the full story. NIGHT went from $0.0229 to $0.0531 in less than ten days. That move made it famous. Then it got rejected at $0.0531 and again at $0.0527. That is where all the supply is sitting. Since then every bounce has been smaller and $0.0451 has stopped every rally for five weeks straight.
Now here is the part that keeps me watching. I pulled Fib across that whole pump. Both pullbacks stopped inside the same pocket, between $0.0380 and $0.0344. Buyers saved that same area two times. That is not luck, that is real demand.
Still, I am not calling this a reversal. Price is still under $0.0416 and under $0.0451 ceiling. Until we get a daily close above $0.0451, I am treating this as a range. Above $0.0451, next is $0.0460 and then that double top again.
My plan is very clear and patient. I am not buying $0.0399 in the middle. My limit is at $0.0380, right in that pocket. Stop is $0.0336, below that pocket and below $0.0354 low. First target $0.0460, final target $0.0527. That is $0.0044 risk for $0.0080 to first target and $0.0147 to final. In percent that is 11.58% down vs 21.05% and 38.68% up. If daily closes below $0.0354 my idea gets weak, below $0.0336 it is dead. If price never comes down to $0.0380, there is no trade, I am fine just watching.
Everyone chases the pump, I wait for the zone that already held twice. That is how I survive.
Tell me honestly, would you buy early at $0.0380 or wait for daily close above $0.0451?
Comment EARLY if you buy the pocket, WAIT if you wait for breakout.
Tap to trade this range $NIGHT
