zobaczymy 😅

My, my... What do we have here?
Injective broke below a long-term support level, and this is good.

A consolidation phase between April and October 2023 launched a massive bullish impulse. This consolidation phase lasted 189 days or six months. It is marked blue on the chart. This same level worked as resistance in 2021.

After the December 2023 peak we have a classic correction. The 0.786 Fib. retracement level for the last bullish cycle matches the consolidation phase price range.

INJBTC broke this support level and this is good. All weak hands have been removed. Trading volume (bearish) is ultra-low on this drop. INJBTC has been moving lower for more than a year. The initial bearish impulse is the corrective phase. The slow downward action afterward is a new period of consolidation. A bearish consolidation, that is, sideways with a down-bias.

Why is this good?

Because prices are now trading below long-term support. This is the best time possible to buy. We have 487% to 800% potential on the way up.

Once the market (as in this pair) recovers, and it will recover for sure —100%, then we will have massive growth. What better time to buy than now, when prices are low?

The next bullish phase for INJBTC can start within 3 days just as it can take 3 months. Just think of the previous chart I showed you, HIVE; buying two months ago opened 2,000% potential for growth. The chart as it is now, the same target would produce 800% growth potential. Here we have a new example.

Injective is a solid project and did amazing last year. I believe it grew 8,000% on its tether pairing, INJUSDT. If not 8,000% then 6,000% but it was big. The ones that perform good tend to continue to perform good.

I would be cautious if the action remained high near-resistance. This would indicate that growth potential is limited. Seeing the major correction erasing all gains, tells me that the bulls will be ready to play again in the coming weeks or days.

What I've been trying to say is this: I love you!
Oh! Sorry, I mean; Crypto is going up.

Thanks a lot for your continued support.

Namaste.

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$INJ

$BTC