Text describes my view on the current situation,
TLDR $35 coming by march with TP targets shown on blue elliot wave
The triangle breakout and retest shows that new momentum could be returning if we can confirm the lower high structure
The move to $44 resembles a leverage liquidation event and for the time being I believe we will start clawing back the gains from that huge move, using Fib retraces and targeting the .702 area
This gives us our shorter term targets (timeframe approximately 6weeks give or take until end of march)
TLDR $35 coming by march with TP targets shown on blue elliot wave
The triangle breakout and retest shows that new momentum could be returning if we can confirm the lower high structure
The move to $44 resembles a leverage liquidation event and for the time being I believe we will start clawing back the gains from that huge move, using Fib retraces and targeting the .702 area
This gives us our shorter term targets (timeframe approximately 6weeks give or take until end of march)
Nota
Zooming out slightly on this idea one can see I posted some confluence on 2 fibs drawn separately at $53 to $541.618 and 1.272 respectively
This gives us an outlook of where to look to base next before penultimately moving to 72-94 range
Nota
Price targets still in play$61
$88
$165
Nota
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.