Price printed a textbook motif wave 1 and ABC wave 2 correction ending at the 61.8 Fibonacci retracement golden pocket and High Volume Node (HVN) major support.
Price continues to flirt with weekly 200EMA and looks ready for another test as resistance on the local chart.
The weekly pivot still looms above but if price is in a macro wave 3 we should punch through these resistances over the next few weeks and head towards long term target of $80.
Wave 2 can extend all the way $1.80 before invalidation, though the lower prices goes, the lower the probability of the analysis being correct
Safe trading
Price continues to flirt with weekly 200EMA and looks ready for another test as resistance on the local chart.
The weekly pivot still looms above but if price is in a macro wave 3 we should punch through these resistances over the next few weeks and head towards long term target of $80.
Wave 2 can extend all the way $1.80 before invalidation, though the lower prices goes, the lower the probability of the analysis being correct
Safe trading
MSc Financial Economist, Studying PhD in Investing and Social Mood, Technical Analyst 6+ years, Investor 13+ years
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
MSc Financial Economist, Studying PhD in Investing and Social Mood, Technical Analyst 6+ years, Investor 13+ years
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.