HOT/HOLO Next Wave Up
HOT is following a nice Ascending Triangle and can be seen using Elliott Wave ABCDE. Hourly shows some nice movement between Neckline and trendline and just completed its last movement to placement E. It may consolidate for a bit and of course this is all dependant on Bitcoin, but I suspect a breakout within the next few hours. Expect a run to the .236 FIB before a retracement to the .50 FIB for some consolidation. After this Test at .50, will then moon to last placement of ATH. Trade wisely and and always use SL she moves quick when BTC moves. Trade at your own risk.
SL: .0031
TP1: .0035
TP2: .0038
TP2: .0042
SL: .0031
TP1: .0035
TP2: .0038
TP2: .0042
Trade closed: stop reached
Update: BTC Consolidating looking at the hourly time frame between FIB .786 (48,000) and .5 (51,700) The low swings to .786 Support is forcing HOT to consolidate between .30 and .33 respectfully. Nice Short gains here to be made if you are not Longing. HOT is ready to pounce, but it all depends on BTC. Let's see if the 7PM EST 4 Hr Mark triggers both to rise. We need some movement quick or another dip down to 45K can be seen in the not so distant future for BTC. If this happens, it could bring HOT back down to retest .27-.28. Be safe out there! It's getting scary!
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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.