Evening fellow Traders!
Today we will be considering the trading pair SUSHI/USDT
Right from November last year, SUSHI started an uptrend (Impulsive move) to gain 4000% increase in price up until march earlier this year when it was due a correction.
The Correction so far has been an impulsive ABC correction, spanning at least 266 days and also serves as accumulation phase.
Judging by the I impulse wave growth and that the correction stopped just under the .382 retracement level, we can say the is a First Wave Extension.
Should this be the bottom, Price targets for the III impulse wave is at least at a $100 dollars.
Enter with stops just below the 0.5 retracement level for invalidation reasons and target
$60-$65 as the first target and $100-$104 as the 2nd target.
NOTE: DURATION OF TRADE MAY BE INACCURATE.