Unfortunately our .29 level on $CRV was officially breached, which means our structure has officially shifted for the first time since our .20 lows. As per my last post: "Moving…
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Unfortunately our .29 level on $CRV was officially breached, which means our structure has officially shifted for the first time since our .20 lows. As per my last post: "Moving below .29 indicates …
Unfortunately our .29 level on $CRV was officially breached, which means our structure has officially shifted for the first time since our .20 lows. As per my last post: "Moving below .29 indicates we have a completed 5 wave move off the lows, which is still bullish, but allows for a deeper retracement below .29 before a full on reversal." With the origin of this 5 wave move being at .20, this is now our new "invalidation" point on HTF. Based on what I'm seeing across the board, I am not seeing any signs of an immediate reversal on majors yet, so my expectation is that we are probably going to go a bit lower before we are ready for a reversal, both on $CRV and on $BTC, $ETH and likely most everything else. That said, I am just now getting a chance to look at the charts (was driving earlier), so will share more updates shortly. For now, I'd avoid aggressive entries across the board and wait for the dust to settle a bit. I've been stopped out of pretty much all my levered longs at this point, but of course spot holdings will remain untouched.
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