$MYRO Trend Reversal This coin looks like a solid buy here, definitely spot and also perps with SL below 0.06.
WIll fly straight to ATH
MYROUSD trade ideas
MYRO fishing for wave 3In this idea, you will see me fishing for the Fib extension 1.618 - Wave 3 of MYRO.
What makes me think this might happen:
1. Wave 2 kissed exactly the fib 0.618 retracement
2. Wave 2 underwent a triangle corrective wave, meaning it was (relatively) long in time, but consolidating for a much higher move up, respecting the triangle rules for corrective waves.
3. Other indicators, like Stochastic and MACD which are telling me that MYRO is oversold and are about to give BUY signal.
What makes me doubt this move:
1. The bottom is yet to be confirmed. A breakout from the triangle has to happen in order for a BUY signal to be given. I'm just trying to fish for an early signal.
2. RSI could have been better and show a bullish divergence on the lows, but it is yet to do that.
Remember, I've also included the Fib trends, meaning this move is expected to happen anywhere between early February to mid April.
MYRO is a MEME coin. Meaning it should have the required volatility and potential to make this move (around 22k%). Is not considered a large cap, meaning, not too much capital has to go into ito to make this move.
The analysis is INVALIDATED, once it breaks down the LOW at 0.0563 !
Not a financial advice, do your own research. I've been studying Elliott Waves lately, and found it impressive, so I'm trying to practice the theory.
