Not financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.
If you've known me for a while and have that direct connection to the group of doctors you will know that we've been accumulating HOT since it was only 1 week old on Binance. The supply on this is huge which will limit the potential for a top or an all time high on this, so anybody looking at this right now needs to exercise caution. Extreme caution.
HOT has risen in the rankings by market cap exponentially in the last ~2 weeks. As you can see in the charts, keeping things simple, there was the first spike to about 24 and a pullback to 11 satoshi. To put that into perspective, that was a 200% profit from the low around 7-8 satoshi, then a 50% pullback from 24.
Elliot wave would tell us that the retrace to 11 was wave 2 and we're in the midst of wave 3 and it's almost finished. I don't expect this to push back up to much higher than 46 or 47. I've been holding this since 8 satoshi and I've taken my profit, so I am not selling any more but this is the warning I would give to anybody that doesn't already own it. Wait for a retrace.
BTC is making some moves and they're not so pretty. So far the price action isn't too negative for HOT but that could change very quickly. If you're standing on the sidelines, I'd wait for an entry around 28 to 30. It'll take a few days, maybe a week. A buy around 28 will more than likely give you an opportunity for 100% profit potential to sell at 56 which is one of my targets for this run up.
Trade safely and don't fomo.
If you've known me for a while and have that direct connection to the group of doctors you will know that we've been accumulating HOT since it was only 1 week old on Binance. The supply on this is huge which will limit the potential for a top or an all time high on this, so anybody looking at this right now needs to exercise caution. Extreme caution.
HOT has risen in the rankings by market cap exponentially in the last ~2 weeks. As you can see in the charts, keeping things simple, there was the first spike to about 24 and a pullback to 11 satoshi. To put that into perspective, that was a 200% profit from the low around 7-8 satoshi, then a 50% pullback from 24.
Elliot wave would tell us that the retrace to 11 was wave 2 and we're in the midst of wave 3 and it's almost finished. I don't expect this to push back up to much higher than 46 or 47. I've been holding this since 8 satoshi and I've taken my profit, so I am not selling any more but this is the warning I would give to anybody that doesn't already own it. Wait for a retrace.
BTC is making some moves and they're not so pretty. So far the price action isn't too negative for HOT but that could change very quickly. If you're standing on the sidelines, I'd wait for an entry around 28 to 30. It'll take a few days, maybe a week. A buy around 28 will more than likely give you an opportunity for 100% profit potential to sell at 56 which is one of my targets for this run up.
Trade safely and don't fomo.