Due to the lack of sustained downward momentum overnight and the overall weak move, I have relabeled the decline from $88,839 as a sharp correction, potentially marking the end of Wave 2 in a Wave E corrective bounce.
Wave 1 appears to be a Type-2 Weak 5-Wave move that began at $79,962.
To confirm this bounce, we need a break above $84,630, with a protective stop set at the last low, currently $81,635, aligning with the 0.786 retracement level.
Wave 1 appears to be a Type-2 Weak 5-Wave move that began at $79,962.
To confirm this bounce, we need a break above $84,630, with a protective stop set at the last low, currently $81,635, aligning with the 0.786 retracement level.
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or
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or
Sign up to MEXC using this link: promote.mexc.com/a/MTYtE94r
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.