CWAR/USDT Falling Wedge Pattern (4H)CWAR/USDT 4H
Current Pattern:
Impulse Pattern:
Correction Pattern:
Currently close to breakout point very soon, maybe now or tomorrow!
RSI showing bullish divergence, point (C) should make a lower low on the chart and higher low the RSI then we are good to go.
My technical analysis spans since the release of the CWAR token and the previous part of the chart shows an uptrend Elliot Impulse wave (12345)
then converts into an ABCD pattern into another Elliot Impulse wave (12345) with a weak 5, forming a Falling Wedge with Triple Combination ZigZag (WXYXZ) correction pattern.
Basically Elliot's Theory states that an Elliot Wave or ABCD pattern is followed by a correction into a new Elliot Wave or ABCD pattern over and over again on all timeframes.
Remember this is a theory and doesn't always playout it's an idea.
Not financial advice.
