FX_Academy

Nuls (NULS/BTC) in a falling wedge

BINANCE:NULSBTC   Nuls / Bitcoin
After a breakout from the prior triangle, Nuls surged in price. After an impulse wave, the price has been in a falling wedge pattern correcting in a what is likely going to be a WXYXZ complex correction. We can currently see the breakout of the unconfirmed support to the wedge support line which would be a completion of the Y wave. I am expecting the price to bounce back to the resistance line which would be a wave X and then another drop to the 0.5 Fibonacci retracement level of the prior range. This would all be in my mind an A wave from a likely ABCDE correction in a larger triangle pattern, as this happened in the past.

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