On the daily / 3D chart we can spot a bullish inverse head and shoulders pattern that is very close to a breakout!
The impulse Elliott wave (5-3-5-3-5) has been successfully completed and because of that I expect an ABC retracement of this bear trend to 0.618 FIB / end of the wave (4).
You can set your profit target here, between 9.19 USDT to 8.02 USDT.
We have a huge descending parallel channel and I think we can definitely break through this channel!
I recommend only a short term trade here, because I think we need more time for this altcoin to gain strength again.
I expect tremendous pumps for selected altcoins, you can find them in the related section down below ↓
You labeling the correction as an impulse and your 4th wave overlaps wave 1. This can only happen in a leading diagonal. Your channels do not support that. Please clarify
Tolberti
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@CoolBizzle, Yeah maybe i am wrong here, I am not sure. Or maybe the channel is a leading diagonal - the first wave of a huge ABC correction.
thanks for Idea !