✴️ Injective - A 3,948% Bullish Wave In 544 Days

16 lut

Injective definitely surprised me... This was a project that I was not aware of, so I missed the entire wave.

I am a fan of catching the bottom, low prices... "Near support."
I am not a fan of shorting, down waves or corrections, this is for experts only because there are many disadvantages for going SHORT compared to going LONG. But I use logic to approach these charts.

Whenever I see too much growth going for to long I become suspicious. Suspicious might not be the best word, more like "cautious", yes, I become cautious because the markets are unpredictable, you can never know what is going on behind the scene, you can never predict when a ~4,000% bullish wave will transform into a 5,000% bullish wave... Because it is so hard to guess when the situation is right to a see pair grow after it has grown so much, I forget about the disadvantages of the bears and I go SHORT.

Trading volume peaked January 2023. Based on Elliot Wave Theory, this would be the peak also of wave three.

The ensuing action from September 2023 through January 2024 would be wave five and the volume confirms so. From April through Sept. '23 that's wave four.

After the fifth wave comes a major correction.
Trading volume has been dropping for more than a year...

Thanks a lot for your continued support.

Namaste.

21 lut

Uwaga

Injective is closing daily below EMA50.
As soon as this level breaks, can be today or in several days; the next target opens up.

This should around $23.