As you can see from the chart, CRV has been moving in a large channel since early 2021. We've had multiple reactions off the top of the channel without being able to break through it.
We recently just rejected the top of the channel again.
I lean towards a retest of the $1.88-2.08 region and a retest of the bottom of the channel before the real bull run begins. This should happen sometime in early to middle December. That would be an amazing buying opportunity, should it play out -- as I think afterwards, CRV could run to $30+ afterwards.
Your Bull Thesis was spot on. Patience letting the set ups play out is one of the hardest emotions for young traders. We've all been there and flipped before.
benjihyam
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@TheKitchenTrader, I played it well. Rode it from the low $2 range and sold in the $5 range. I just don't think it's ready to run yet... one more correction first
benjihyam
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@TheKitchenTrader, And this is exactly why I exited. I'd rather take my profits and have patience for lower prices. Still think we'll eventually get to the lower targets.
TheKitchenTrader
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@benjihyam, Whatever your call, I really like your chart and its channel view. I personally think it stays on the upper end and breaks out again. This being said, props on the chart. I keep referring to it in conjunction with mine. 👊🏼