*Break of in a long term downward trending channel
*Break of neckline of massive inverted Pattern
*Breakout of 3D Ichimocku cloud
*Bullish weekly pattern forming
The chart above shows a break of the long term downward trending Channel Median line:
Targets: 150- 160sat in confluence with the 3rd wave (Orange) shown in the road map below and the 0.5 Fibonacci retrace level of the last major move down from 272sat to 34sat shown above.
Wave 1: 110sat
Wave 2: 37sat
Wave 3: 160- 180sat
Wave 4: 113- 126sat
Wave 5: 189- 203sat
count suggests that we are in the 3rd wave ( shown below in Purple) of the 1st wave (White) of the 3rd wave(Orange). The target for the high probability zone of the 3rd wave (Orange) is 160 sat but the count on the 4h time frame (Purple) shows it could overshoot this target. A retrace to the high probability zone for the 4th wave (Orange) would put the price at 113sat, close to retesting the prior resistance at 110sat. Note this count is invalid if wave 4 breaks the high of wave 1 at 110sat. The final projection for the 5th wave at a 1:1 projection from the first wave is 189-203sat. The 5th wave target is also in confluence with the golden zone (.0618- 0.65 Fibonacci) of the last major move down. You couldn't make this stuff up if you tried!
Short term shows heavy resistance at 88 89 & 91sat due to the 0.707 Fibonacci level from previous high and the projection for the 3rd wave (Purple); 1.618 - 1.75 Fibonacci level taken from the proposed wave 1 and projected from the low of wave 2. If this is a 3rd wave we can expect a retrace to the 0.382 level, and retest of the VPVR high node at 69- 71sat before a continuation. This would also be a retest the of the channel shown in the 3D macro chart.
4h (Purple) Roadmap:
Wave 1: 64sat
Wave 2: 44sat
Wave 3: 88sat
Wave 4: 71sat
Wave 5: 98sat
Support, resistance and VPVR high node:
A break above 92sat will clear the algos out as the price enters a low area, this should allow for the price to test the 110sat area (former of previous high).
Head and shoulders:
There has been a break of the neckline of a massive pattern formed over 20 months. The projected target for this breakout is 160sat, in confluence with the 3rd wave (Orange) on the macro.
pattern forming on the Weekly:
Resistance in confluence with Wave 1 (white) projection:
Confluence with wave 4 (Purple) retrace:
Never Trust. Verify.
DYOR. Not Financial Advice Just an Observation.
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Be prepared to be wrong. Risk management is key. Capital preservation above all else.