$omi buy zone

29 Mar 2022

Thesis: Using Elliot wave theory from our 1-5 correction with a trend-based fib from 1-2 we've retraced back down to our 1.618 level. That level is also shown in the past looking at our green box to be a clear area of support. Using a trend line from Jun 2021 if we look at recent price action it lines up with the idea of this being a local bottom. I personally bought $350 @ 0.00285 and will be buying another $350 if we can reclaim support above our resistance line from March 2021.