• Currently ending consolidation wave 4 of larger cycle starting 6th Feb @ c.6000
• Wave 4 formed bullish symmetrical triangle and looks to be breaking out
• Entering fifth impulse wave of motive phase:
- Wave 1 to reach c.11,750 at historical support/resistance level
- Wave 2 to retrace to the 38.2% Fib, also a historical support/resistance...
SALT looks primed to breakout of a textbook 1 month right angle consolidation triangle, with large upside potential. RSI divergence evident over previous week, with cup and handle pattern evident over 4 month time frame.
During its consolidation, the price has been ranging between FIB levels (61.6%, 50.0%, 38.2%, 28.3%) which coincide with key support/resistance...
First analysis posted here so please be nice.
There are strong signals that we are about to see WABI breakout of a 2 week triangle correction period and embark on a steep 5th Elliot Wave.
The current price is teetering around a key support line (near the -61.8% FIB level) which has established itself during the 2 week triangle correction (currently 0.00241...
