VIBE #VIBEBTC - wedge breakout might give 150% gain!
ELLIOTT WAVE ANALYSIS:
The bounce from 0.00007490 has the characteristics of an impulsive wave with a high 0.00012865. After this rally, the price falls in the ABC three-phase straight correction to the level of 61% Fibo at the level of 0.00008180. In addition, the price at the end of the downward wave draws a clear wedge, which is expected give an impulsive breakout.
Target levels for the impulsive breakout are 0.00012237 and in the case of extension level 0.00020225. Assuming such a scenario, with SL under 0.00000749, the risk-to-risk ratio is 5: 1, which is why it is a pretty decent trading setup.
Breaking the 0.000007490 level invalidates the impulsive upward scenario.
TREND and IMPORTANT LEVELS:
Main trend: DOWN
Intermediate trend: DOWN
Daily trend: DOWN (possibility of a breakout from the wedge after correction and reversing the trend)
KEY LEVELS:
- for further increases - level 0.00012865
- for continuing correction - level 0.00009098
- for continuation of decreases - 0.00008180
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PPS: The next analysis of the next cryptocurrency will be published, if this post receives a min. 100 likes. :)
The bounce from 0.00007490 has the characteristics of an impulsive wave with a high 0.00012865. After this rally, the price falls in the ABC three-phase straight correction to the level of 61% Fibo at the level of 0.00008180. In addition, the price at the end of the downward wave draws a clear wedge, which is expected give an impulsive breakout.
Target levels for the impulsive breakout are 0.00012237 and in the case of extension level 0.00020225. Assuming such a scenario, with SL under 0.00000749, the risk-to-risk ratio is 5: 1, which is why it is a pretty decent trading setup.
Breaking the 0.000007490 level invalidates the impulsive upward scenario.
TREND and IMPORTANT LEVELS:
Main trend: DOWN
Intermediate trend: DOWN
Daily trend: DOWN (possibility of a breakout from the wedge after correction and reversing the trend)
KEY LEVELS:
- for further increases - level 0.00012865
- for continuing correction - level 0.00009098
- for continuation of decreases - 0.00008180
PS: Make sure you follow me!
PPS: The next analysis of the next cryptocurrency will be published, if this post receives a min. 100 likes. :)
Kommentar:
After the complex and time-consuming correction in the wave (B), changed from the wave (2) due to the violated low, the VIBEBTC cryptocurrency begins to do something constructive in the end. Targets on chart.
