Alikze »» OP | C wave correction
🔍 Technical analysis: C wave correction
- It has been moving in an upward channel in weekly and daily time.
- It is currently moving in a downward channel.
- The last upward wave was a complete cycle of 5 waves, which was able to grow to the size of 0.78 of the previous wave, which then formed a corrective structure.
- At present, the current corrective structure is a three-wave that can have two behavioral scenarios.
💎 First scenario: If the current zone cannot stabilize above the golden zone, wave C can extend to the specified PRZ zones (each of the PRZ zones can be a return zone). Therefore, if the current area is not maintained, the downward trend can continue.
💎 The second scenario: if it encounters demand in the golden zone, it can continue an upward trend in the form of a rising wave 3 or C, which at first can conquer its previous major ceiling and then continue to grow until the supply zone.
If the behavior and structure of the post changes, it will be updated.
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
OPUSDT
- It has been moving in an upward channel in weekly and daily time.
- It is currently moving in a downward channel.
- The last upward wave was a complete cycle of 5 waves, which was able to grow to the size of 0.78 of the previous wave, which then formed a corrective structure.
- At present, the current corrective structure is a three-wave that can have two behavioral scenarios.
💎 First scenario: If the current zone cannot stabilize above the golden zone, wave C can extend to the specified PRZ zones (each of the PRZ zones can be a return zone). Therefore, if the current area is not maintained, the downward trend can continue.
💎 The second scenario: if it encounters demand in the golden zone, it can continue an upward trend in the form of a rising wave 3 or C, which at first can conquer its previous major ceiling and then continue to grow until the supply zone.
If the behavior and structure of the post changes, it will be updated.
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
OPUSDT Note
In line with the predicted trajectory, it faced selling pressure after hitting the ceiling of the channel. Therefore, the last corrective lag can continue until the specified areas of PRZ and then enter the ascending phase. Note
According to the predicted bearish scenario, it has faced a correction after hitting the ceiling of the channel. Currently, it has grown more than 34% in the PRZ-1 zone with a temporary support and reversal. Therefore, as long as it does not confirm the return or exit from the descending channel, it will have the ability to correct up to the PRZ-2 zone. If the behavior and structure of the post changes, it will be updated. 
Related publications
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.