WULF Macro looks exhausted... pullback before higher

WULF Price appears exhausted at the upper channel boundary, and I have exited completely for now. The Elliot wave pattern completes a leading diagonal, which hints at higher to go after a deep wave 2 pullback, which could end at the 0.382 Fibonacci retracement, $8, but a more likely target is the 0.5 Fib at $5.84 with downside momentum. Also the weekly 200EMA.

Breaking out above the channel would change the count and structure and be very bullish. RSI has been overbought for a while. For now, I watch and wait.

🎯 Terminal target for the business cycle could see prices as high as $25 based on weekly pivots

📈 Weekly RSI is oversold with no divergence and can remain here for months as price keeps increasing.

👉 Analysis is invalidated if we close back above $20

Fair value sits at $11.

Safe trading