Fetch.AI showing positive signs and resemblances
From September 2021 to November 2022, the asset corrected by more than 95% during its downtrend. I found many similarities in the corrective structure of this period with the potential wave 2 of this new recovery cycle.
Please, note the green and purple boxes and the formation of a double bottom. Then, observe how the asset behaved after breaking out of the accumulation period at the end of 2022.
Could we be witnessing something similar happening in a potential wave 3? Within the Elliott Wave Theory, this impulsive wave would be of greater magnitude and, therefore, larger than the previous wave 1.
Please, note the green and purple boxes and the formation of a double bottom. Then, observe how the asset behaved after breaking out of the accumulation period at the end of 2022.
Could we be witnessing something similar happening in a potential wave 3? Within the Elliott Wave Theory, this impulsive wave would be of greater magnitude and, therefore, larger than the previous wave 1.
Comment:
It looks like I nailed the target of wave 3 perfectly.
Comment:
We might be close to wrapping up wave 4.
Trade closed: target reached:
Closing position.