Long
NEBL/BTC 4H Short term 40% profit potential.
I don't know the coin nor any fundamentals behind it.
However, it look like a quite decent setup for short term trade.
I believe we just finished Wave 4 (ABCDE) as it reached 0.5 fib level.
Moreover, E leg landed on the Wave 1 resistance.
As we all know wave 4 cannot overlap into wave 1 territory (In leveraged markets it can by wick or so).
We might be just on the bring of the Wave 5.
Potential target:
- Green 1:1 Wave 1 extension.
However, it look like a quite decent setup for short term trade.
I believe we just finished Wave 4 (ABCDE) as it reached 0.5 fib level.
Moreover, E leg landed on the Wave 1 resistance.
As we all know wave 4 cannot overlap into wave 1 territory (In leveraged markets it can by wick or so).
We might be just on the bring of the Wave 5.
Potential target:
- Green 1:1 Wave 1 extension.
Note
Buy zone - RED
Price is gonna most likely jump off 55MA (red line), which also happens to be 0.618 fib level.
Very strong support line.
We might wick down to 100MA (oragne)
Note
Perfect bounce from 0.618 fib.
Targets
Blue - 1:1
Green - 1:1.618
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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.
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.