Wave Analysis: Wave 2 possibly ending today
Hello and happy Friday to everyone. I hope you all enjoy your weekend! Looks like we might have a positive one for a change as today has show a bit of a downtrend for most the Crypto market.
For some, it appears they are consolidating/correcting today.
Cortex is possibly in an Impulse wave, having already completed wave 1 and currently in wave 2 for correction.
Correction has already dipped below the .236 fib. I am seeing a pattern that's telling me somewhere near the end of todays daily candle, we'll see the start of the 3rd wave.
I have two fib retracements to have a range to take into account for movement.
MACD
It's at the PINCH! Looks to be indicating the switch to the uptrend.
RSI-X
Not great. Still more near being oversold and the VOL-X is pointing down.
Stoch
Moving where I think it should be, Up, open, and hopefully it'll open up a bit more as the day continues.
Waiting on confirmation for how todays candle ends to know where things will be going. It could continue in a further downward correction if the volume doesn't improve.
Expect a large sell off between .5-.618 fib. Similar to the May 27th candle. It got near that .5 fib and it saw a large sell off.
Enjoy your weekend, hope you all have something fun planned! Stay safe!
For some, it appears they are consolidating/correcting today.
Cortex is possibly in an Impulse wave, having already completed wave 1 and currently in wave 2 for correction.
Correction has already dipped below the .236 fib. I am seeing a pattern that's telling me somewhere near the end of todays daily candle, we'll see the start of the 3rd wave.
I have two fib retracements to have a range to take into account for movement.
MACD
It's at the PINCH! Looks to be indicating the switch to the uptrend.
RSI-X
Not great. Still more near being oversold and the VOL-X is pointing down.
Stoch
Moving where I think it should be, Up, open, and hopefully it'll open up a bit more as the day continues.
Waiting on confirmation for how todays candle ends to know where things will be going. It could continue in a further downward correction if the volume doesn't improve.
Expect a large sell off between .5-.618 fib. Similar to the May 27th candle. It got near that .5 fib and it saw a large sell off.
Enjoy your weekend, hope you all have something fun planned! Stay safe!
Cosmos Blockchain Explorer: explorer.thesilverfox.pro
Validator website and Cosmos Blockchain Unbonding Charts: thesilverfox.pro/
Click on blockchain icon and wait for them to load.
Validator website and Cosmos Blockchain Unbonding Charts: thesilverfox.pro/
Click on blockchain icon and wait for them to load.
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.