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AUTO - Massive channel is breaking out! Huge gains, Elliott Wave
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AUTO - Massive channel is breaking out! Huge gains, Elliott Wave
By UnknownUnicorn2537518
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Aug 1, 2022
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Aug 1, 2022
First of all, I want you to take a look at the volume indicator. As you can see, we have huge bullish volume!
On the daily chart, there is a descending parallel channel that has been destroyed by the bulls recently.
Also, there is a local symmetrical triangle that looks like it is also breaking out, so we have a double breakout, which is nice to see!
Impulse Elliott Wave has been completed (5-3-5-3-5), and because of that, I expect a bullish retracement.
The profit target is at the end of the previous wave 4.
I don't have the historical data to put a fibonacci retracement from the previous all-time high, but it was around 13 500 USDT.
I think this is a pretty good setup to buy this coin on the spot market.
I expect tremendous gains for selected altcoins. You can find them in the related section down below.
For more ideas, please hit "Like" and "Follow"!
Ascending Triangle
AUTOBTC
AUTOUSD
AUTOUSDT
bullishreversedivergence
Descending Channel
Elliott Wave
Falling Wedge
Support and Resistance
Symmetrical Triangle
Trend Line Break
Volume
UnknownUnicorn2537518
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