WABI: Time to ride the wave?
First analysis posted here so please be nice.
There are strong signals that we are about to see WABI breakout of a 2 week triangle correction period and embark on a steep 5th Elliot Wave.
The current price is teetering around a key support line (near the -61.8% FIB level) which has established itself during the 2 week triangle correction (currently 0.00241 BTC). Should this support level hold, I would be looking for RSI and MACD confluence upon breaking out of the triangle before laddering in just above key support/resistance zones (target buy prices: 0.000264,0.000287,0.000303,0.000338).
The conservative price target is at the ATH (c. 0.0004000, +50%) but should this be broken and with indicators that the bull run will continue, a higher price target would be around the 161.8 FIB level (0.0005485, +100%). Looking at this to play out over the next week or so, will be watching this closely.
There are strong signals that we are about to see WABI breakout of a 2 week triangle correction period and embark on a steep 5th Elliot Wave.
The current price is teetering around a key support line (near the -61.8% FIB level) which has established itself during the 2 week triangle correction (currently 0.00241 BTC). Should this support level hold, I would be looking for RSI and MACD confluence upon breaking out of the triangle before laddering in just above key support/resistance zones (target buy prices: 0.000264,0.000287,0.000303,0.000338).
The conservative price target is at the ATH (c. 0.0004000, +50%) but should this be broken and with indicators that the bull run will continue, a higher price target would be around the 161.8 FIB level (0.0005485, +100%). Looking at this to play out over the next week or so, will be watching this closely.
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