Chart description:
Assuming the low is in and we finished wave 1.
Short/mid-term setup:
- Flat structure, currently in wave C.
- Although wave B did not touch the 1.23fib. It looks expanded because of the leading diagonal is invalid.
- Multiple 1-2 setup.
- Target box laid out in chart. Golden pocket ratio at $0.64.
- As price action progresses we can set clearer targets for short-term bullish/bearish scenario’s.
Assuming the low is in and we finished wave 1.
Short/mid-term setup:
- Flat structure, currently in wave C.
- Although wave B did not touch the 1.23fib. It looks expanded because of the leading diagonal is invalid.
- Multiple 1-2 setup.
- Target box laid out in chart. Golden pocket ratio at $0.64.
- As price action progresses we can set clearer targets for short-term bullish/bearish scenario’s.
הערה:
Main scenario: wave 4 minuscule for a flat structure. Invalidation level at $0.8922 (0.618fib retracement).
הערה:
Reassessed labeling. Potentially multiple 1-2 setups!
הערה:
Considering Bitcoin's uncertainty another perspective for MINA - expanding diagonal. If BTC moves impulsively down, I expect more downside for MINA.
הערה:
Wave B retracement in my previous chart is i.m.o. to shallow, which makes me consider alternatives.
הערה:
Update on Bitcoin_v0.1. Next move bitcoin could give us much more information on its trajectory. Expecting a wave C (5 waves).
הערה:
Another attempt at shedding some light on MINA's price trajectory. Binance doensn't cover MINA's full history, Labelled it as rare WXYXZ prior to its move upward. This move is either a wave 1 (part a potential leading diagonal ) or a wave A.