After a 70% ABC Elliot Wave correction EMC2 looks like it could break out into another 12345 Elliot Wave. If signs of upward momentum continue I would buy in around 8972 Satoshis. A big note here, if EMC2 cannot break the channel that it is currently in I think it could potentially lead to another bear run to a new low so watch out for that. Moving forward if it breaks the channel buy in at 8972 and watch for more potential resistance at the B wave also the 61.8 fib. If that can be done I would sell around 78.6 for a profit of nearly 90%!
Comment:
EMC2 is making an effort to break it's current downward channel. Look for it to close near or above the 23.6 fib for an entry point.
Comment:
EMC2 has failed to break it's downward channel, I would no longer consider this trade as it still shows signs of downward momentum.