CRYPTO.COM COIN (CRO) FIB RETRACEMENT SCENARIO EARLY FEB 2022As you can see, BITTREX:CROEUR is still in a clear downtrend with a correction end-December 2021, CRO looks like is going to make a new correction/retracement, here is my scenario:
What makes CRO Long (for the next weeks, globally still in a downtrend)?
Strong bullish candle
Crossed RSI for the first time since last retracement
Till where is the to coming retracement to go?
Last retracement reversed at around 50%-61.8% fib level
To coming retracement is very likely to reverse around the same levels
Retracement or Trend Reversal?
movement looks like a retracement,
BUT, Crypto.com has recently made an NFT marketplace, and built a Stadium
Crypto.com has big upcoming projects
Therefore, new investors may buy CRO and pump the price
What about long term?
Crypto.com has huge potential to hit >10$ maybe it might be within the next five years and with inflation creeping up people are looking for places to put their money to hold its value and coins like CRO will always attract
attention as they market their brand and project very well.
You don't need to buy the current dip, there will certainly be many other possiblilities
Is the price likely to pump again like it did in November 2021?
Most likely NOT, in the next months, maybe in the future
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