STRAT 1H Chart 2-12-2017
Updated
I'm seeing this pattern. First SSTRAT will be getting the first triangle popping up, which has three ways to go:
1 - It can drop down to the 0.618 on the bigger scale immediately, as it will bounce on the RSI bottom line then + on the FIB level, which is quite heavy.
2 - It can move up to 57K, before hitting the resistance line on the RSI level and drop down afterwards (it will make a double top then). After that I'm thinking it will move back down to the 0.618 level to finish these Elliott Waves
3 - It can move up to 66K (highly unlikely) and fall back afterwards. For this it needs to break the RSI resistance back again, so we need a lot of volume.
Looking forward for this one how it plays out!
1 - It can drop down to the 0.618 on the bigger scale immediately, as it will bounce on the RSI bottom line then + on the FIB level, which is quite heavy.
2 - It can move up to 57K, before hitting the resistance line on the RSI level and drop down afterwards (it will make a double top then). After that I'm thinking it will move back down to the 0.618 level to finish these Elliott Waves
3 - It can move up to 66K (highly unlikely) and fall back afterwards. For this it needs to break the RSI resistance back again, so we need a lot of volume.
Looking forward for this one how it plays out!
Note
There's also a possibility that we move through to the upper resistance line and land on the 1 Fib level --> this is around 67K sats. In that case we are pretty much bullish and then Elliott Wave 4 won't be lower then Elliott Wave 1, which is quite likely as well.
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