EMC2 coming out of an ABC Elliot correction.
Updated
After a 70% ABC Elliot Wave correction EMC2 looks like it could break out into another 12345 Elliot Wave. If signs of upward momentum continue I would buy in around 8972 Satoshis. A big note here, if EMC2 cannot break the channel that it is currently in I think it could potentially lead to another bear run to a new low so watch out for that. Moving forward if it breaks the channel buy in at 8972 and watch for more potential resistance at the B wave also the 61.8 fib. If that can be done I would sell around 78.6 for a profit of nearly 90%!
Note
EMC2 is making an effort to break it's current downward channel. Look for it to close near or above the 23.6 fib for an entry point.Note
EMC2 has failed to break it's downward channel, I would no longer consider this trade as it still shows signs of downward momentum.
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