We had an improper correcting wave 2 that exceeded wave 1 peak
Currenty we are looking for 2nd wave in the bigger third wave and this time the trird wave may be a correction for the continuing downwards move.
We are going to correct to the huge price imbalance with the beautiful 4th corrective wave inside the third Also there are couple of divergencies formed at few other TF with CCI Possibly its just an ABC correction for the further downwards move. But right now short position looks legit. Furhermore, we`ve reached 2.618 Fib which is usually a maximum target...
We saw a further downwards move on ATOM and divergence turned to a double bottom. Right now there are two scenarios to it. 1) We go a bit lower and then up 5-9% 2) We go up 5-9%
Strong divergence with CCI always (almost) works at least 4-7% down move. Lets see if this setup works out.
This is 100% working divergence, let`s see! When I checked it on different coins it always worked out with a short SL about 1-3% Sure this one will do!
Currently we saw a big upper move with no strong retracement. What is to happen now is at least short downwards move to 0.5 fib or 0.618 At 4h you can see CCI divergence that has worked out only 2 of 3 waves. We also touched golden ratio fib (0.618) at 4h correction move.
We are going to golden ratio correct the huge juicy 5 waves move. It may also pump up a bit higher but then we`ll fall 100% to balance the price.