Update on WAVES:
1) I mentioned previously that we could see a breakout above the red box. I have now tuned the box green because it has flipped from support to resistance. Keep in mind we still saw quite a bit of resistance in this region but it was enough for the bulls to break through it. Since this gave us a decent amount of resistance I expect it to provide decent amount of support in a potential move back down.
2) I mentioned that we could see a breakout and re test of the now green box before seeing more upside potential. I was originally skeptical of this because of how quickly we have rallied, and I still am.
3) The Ichimoku on the 4 hourly has started to gain quite a bit of bullish strength with this consolidation we have had. This is a great sign for further upwards movement.
4) We have a cup and handle formation on the 4 hourly, also a good sign as it seems we have broken out of the pattern recently.
5) If we manage to break the previous high set in October, WAVES could easily push $50.
6) I still expect a re-test of this green box before further moves to the upside. This is something I will keep my eye on.
7) We are currently testing previous highs set in October. A re test of the green box and a bullish consolidation (like we have seen with the 4 hour cup and handle) around the high set in October could send us to new all time highs. Again this is risky IMO as we have rallied so much in such a short amount of time.
8) Remember, this is not financial advice and always do your own analysis/research before making any decisions on the market.
1) I mentioned previously that we could see a breakout above the red box. I have now tuned the box green because it has flipped from support to resistance. Keep in mind we still saw quite a bit of resistance in this region but it was enough for the bulls to break through it. Since this gave us a decent amount of resistance I expect it to provide decent amount of support in a potential move back down.
2) I mentioned that we could see a breakout and re test of the now green box before seeing more upside potential. I was originally skeptical of this because of how quickly we have rallied, and I still am.
3) The Ichimoku on the 4 hourly has started to gain quite a bit of bullish strength with this consolidation we have had. This is a great sign for further upwards movement.
4) We have a cup and handle formation on the 4 hourly, also a good sign as it seems we have broken out of the pattern recently.
5) If we manage to break the previous high set in October, WAVES could easily push $50.
6) I still expect a re-test of this green box before further moves to the upside. This is something I will keep my eye on.
7) We are currently testing previous highs set in October. A re test of the green box and a bullish consolidation (like we have seen with the 4 hour cup and handle) around the high set in October could send us to new all time highs. Again this is risky IMO as we have rallied so much in such a short amount of time.
8) Remember, this is not financial advice and always do your own analysis/research before making any decisions on the market.