ANKRUSDT 4H - ON A CROSSPATH ON TOP OF CHANNEL RESISTANCE
RSI is oversold to levels that usually indicate up movement, we are on ABC in a pennant on finalized 4th Elliot wave, by rule this correction however should extend so we may break out of the penant, but consolidate to first major fib support and mid of channel, then the correction of 4th wave would make more sense.
Currently MACD is looking bad it has room to fall and consolidate, that is why I think we may breakout/fakeout and consolidate slighting on top of resistance of the flag downwards.
However the penant/abc is quite strong as it sits on top of channel resistance and currently trading above 20 EMA, with no indications of a stop, so we may continue our parabolic rise here with this modest correction. All in all chart looks bullish, personally I would wait for 2 candles above 0.17 and a stable btc to confirm the penant breakout and move to the expect 4-5 cents rise, form there we may correct bigger or continue to 0.30 and if you are really optimistic you can see that the parabola + elliot 5th wave may lead us to some exponential growth of 2.88$ mid may if we follow the pitfcfork not that hard to imagine for 20 bill mcap on a 5 trillion market.
Currently MACD is looking bad it has room to fall and consolidate, that is why I think we may breakout/fakeout and consolidate slighting on top of resistance of the flag downwards.
However the penant/abc is quite strong as it sits on top of channel resistance and currently trading above 20 EMA, with no indications of a stop, so we may continue our parabolic rise here with this modest correction. All in all chart looks bullish, personally I would wait for 2 candles above 0.17 and a stable btc to confirm the penant breakout and move to the expect 4-5 cents rise, form there we may correct bigger or continue to 0.30 and if you are really optimistic you can see that the parabola + elliot 5th wave may lead us to some exponential growth of 2.88$ mid may if we follow the pitfcfork not that hard to imagine for 20 bill mcap on a 5 trillion market.
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