This 
STBL coin has not been stable in price, at all.
A clear DOWNTREND since DAY 1 with two very impulsive WAVES down (WAVES 1 & 3), so I have utilised a negative ELLIOT'S WAVE count, and currently we are seeing a WAVE 4 (correction of the main trend), which is projected to reach 17.8c or 21c. And these are my targets for the recent SPOT position entry.
I call this type of price action a TEXT-BOOK downtrend, each leg down is followed by a BEARISH chart pattern (two BEARISH PENNANTS in this case).
And this ongoing PENNANT is going to either break down below 8c and into its own WINTERTIME, or break out to the UPSIDE (12.5c breakout point) in order to go for the WAVE 4 targets.
Consolidation in a tightening range, decision time soon. Liquidations above are awaiting.
Fundamentally, it's hard for me to believe that we could see this project with an even smaller marketcap ($55M circulating cap atm).
7.5c - 8c is a BUY-ZONE for me, LIMIT BUY order (my 3rd entry, the last one into this asset) in place.
💙👽
STBL coin has not been stable in price, at all.A clear DOWNTREND since DAY 1 with two very impulsive WAVES down (WAVES 1 & 3), so I have utilised a negative ELLIOT'S WAVE count, and currently we are seeing a WAVE 4 (correction of the main trend), which is projected to reach 17.8c or 21c. And these are my targets for the recent SPOT position entry.
I call this type of price action a TEXT-BOOK downtrend, each leg down is followed by a BEARISH chart pattern (two BEARISH PENNANTS in this case).
And this ongoing PENNANT is going to either break down below 8c and into its own WINTERTIME, or break out to the UPSIDE (12.5c breakout point) in order to go for the WAVE 4 targets.
Consolidation in a tightening range, decision time soon. Liquidations above are awaiting.
Fundamentally, it's hard for me to believe that we could see this project with an even smaller marketcap ($55M circulating cap atm).
7.5c - 8c is a BUY-ZONE for me, LIMIT BUY order (my 3rd entry, the last one into this asset) in place.
💙👽
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.