We have a beautiful 5 wave structure building contained within the channel. We are in the 4th wave and likely close to completion, assuming that the correction will be shallow because wave2 correction was deep
I have 2 possible targets for wave5 in the chart, the larger one expects the price to breakout of the channel.
Invalidation of this setup is price going below wave1 top (pink line)
All the best!
I have 2 possible targets for wave5 in the chart, the larger one expects the price to breakout of the channel.
Invalidation of this setup is price going below wave1 top (pink line)
All the best!
Comentarios:
Its great the price is holding up just above the invalidation level despite the weakness from BTC, the 200 DMA is acting as support. This now appears to be a very low risk, high reward long
Comentarios:
Count invalidated
Operación cerrada: precio stop alcanzado
Comentarios:
We mentioned that 4th wave can't go below wave 1 top unless its just a wick. Notice the wick out above the invalidation level. This is really interesting
If we this continues to stay above the invalidation level, 5th wave can playout.
Lets see
If we this continues to stay above the invalidation level, 5th wave can playout.
Lets see
All eyes on BTC now