After the cycle we had a complex correction (simplified in my steemit).
- We completed an apparent (ABCDE) triangle formation ( );
- We touched one of the two major (precise to the smallest timeframes) before rebounding;
- We reached volumes comparable with the massive uptrend;
- Perfect inversion with a pattern (would mean at least 12 days of growth);
- Weekly made a crossover.
- Fibs matching perfectly.
- Trendline intact
- There is divergence showing already in the 4h chart, meaning there will be better opportunities to buy now;
- There is still massive pressure towards the orange channel;
- This upmove should be the 4th wave of the the 5th correction (the last drop before lambo)
I was betting for a lower low (which might still come)
My stop-loss is at: $6.250 USD (to be raised if i can find a wave to count xd )
Profit target 1: (cloud resistance) $7.100 USD
reaching cloud support, I bet on a bounce soon.
let us see how we will complete this triangle
isn't this a pretty bullish sign? =)