RISE was a great buy for myself at around 0.00007, and I'm looking to reenter again after selling some profits near the top. After its recent run up, RISE's price has retraced back to the 0.000088 level. Currently it's looking like it's in the final wave of a 5 wave elliot wave cycle. If this is correct, I can see it bouncing off the following areas for the listed reasons
- ~0.000064: Based on basic elliot wave theory/fib retracement, this would be a key spot for it to bounce from. This is supported by a support area based off of 3 points which are; a couple of failed breakouts on September 3, a bounce on the 10th, and a failed breakout and bounce on the 15th. For me this is the most likely outcome
- ~0.000053: Same reasoning as before, a common bounce area based on elliot wave/fib retracement. Was also the approximate area where the two failed breakouts previously mentioned bounced
- ~0.000043: In my opinion the least likely outcome. This is based on the previous major successfully breakout