WAXPUSDT has completed a 5-leg drop in the form of a falling wedge, followed by a breakout signifying the beginning of recovery.
The price has completed wave 1 and is now undergoing correction for wave 2 before the next impulsive wave 3.
The re-accumulation zone presents a favorable buying opportunity, with a provided stop-loss to mitigate risk in case of a price reversal.
We have also specified the final setup targets along with mini targets for short-term profit-taking.
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The price has not yet reached our designated re-accumulation zone, making it prudent to wait and closely monitor the immediate trendline, which is presently serving as resistance. The strategy involves initiating a long position on the pullback to the trendline following its breakout.