Greetings, this is my newest update and count for Solana :)
Recently we broke out in an Elliott Wave Triangle which finished the white Wave 4 and we started working on the white Wave 5. I count the breakout as the green Wave 1 and currently we are working on the green Wave 2 in an ABC where we finished the red Waves A and B already.
The blue Wave 2 Support sits between the 0.382 FIB at 230.78 USD and the 0.786 FIB at 218.57 USD.
As the red Wave A nd B are in we can calculate the optimal target area for red Wave C.
The red Wave C optimally terminates between 227.38 USD and 221.41 USD.
The target area for C is showed as a box within the blue Wave 2 support.
Noteworthy is that the optimal target of Wave C is in confluence wit the golden pocket of the blue Wave 2. A rare target for the red Wave C would be the 2.618 extension at 215.59 USD marked dark red here right below the triangle trend line but this would break our blue Wave 2 support and shift probabilities to that we already topped out in the white Wave 5 and started a pullback.
We added an additional target area between the 0.618 FIB at 255.45 USD and the 0.786 FIB at 267.20 USD to look out for if we move higher.
Noteworthy is that the ATH is within that target area and this ATH could serve as resistance.
The 0.786 FIB at 267.20 USD is also in confluence with higher timeframe FIBS at 268.91 USD and at 265.89 USD.
Be aware that if we break the ATH we will enter price discovery.
Thanks for reading.
NO FINANCIAL ADVICE.
Recently we broke out in an Elliott Wave Triangle which finished the white Wave 4 and we started working on the white Wave 5. I count the breakout as the green Wave 1 and currently we are working on the green Wave 2 in an ABC where we finished the red Waves A and B already.
The blue Wave 2 Support sits between the 0.382 FIB at 230.78 USD and the 0.786 FIB at 218.57 USD.
As the red Wave A nd B are in we can calculate the optimal target area for red Wave C.
The red Wave C optimally terminates between 227.38 USD and 221.41 USD.
The target area for C is showed as a box within the blue Wave 2 support.
Noteworthy is that the optimal target of Wave C is in confluence wit the golden pocket of the blue Wave 2. A rare target for the red Wave C would be the 2.618 extension at 215.59 USD marked dark red here right below the triangle trend line but this would break our blue Wave 2 support and shift probabilities to that we already topped out in the white Wave 5 and started a pullback.
We added an additional target area between the 0.618 FIB at 255.45 USD and the 0.786 FIB at 267.20 USD to look out for if we move higher.
Noteworthy is that the ATH is within that target area and this ATH could serve as resistance.
The 0.786 FIB at 267.20 USD is also in confluence with higher timeframe FIBS at 268.91 USD and at 265.89 USD.
Be aware that if we break the ATH we will enter price discovery.
Thanks for reading.
NO FINANCIAL ADVICE.
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.
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.