MOVRלונג
MOVR going to print millionaires
Simple analysis on current market structure tells me the following
Elliot Wave 1 breakout was quite enormous and if it is to adhere to elliot wave theory and if the interpretation is correct, the following wave 3 can't be the shortest of the 3 impulses
(1,3,5). Thus the following can be said...
Wave 3 has a minimal target of the yellow overhead horizontal line of approximately $200 to comply with the elliot wave basic principle
Wave 4 correction would ideally fall back to the lower yellow horizontal line which has weekly candle price action support around the $120 target. Giving a 40% price correction which should be in line with healthy bull market structure and timeframe. Given BTC should correct around the same timeframe.
Wave 5 completes the cycle with the target being anywhere above $200 and the ATH. No point in speculating the ATH as price discovery can lead to exaggerated targets however personally the target should be close to ATH of $400-500 as this will represent twice the market cap of MOVR at initial ATH (adjusting for token inflation)
Combined with bagholders offloading at ATH this should be a good final target
Elliot Wave 1 breakout was quite enormous and if it is to adhere to elliot wave theory and if the interpretation is correct, the following wave 3 can't be the shortest of the 3 impulses
(1,3,5). Thus the following can be said...
Wave 3 has a minimal target of the yellow overhead horizontal line of approximately $200 to comply with the elliot wave basic principle
Wave 4 correction would ideally fall back to the lower yellow horizontal line which has weekly candle price action support around the $120 target. Giving a 40% price correction which should be in line with healthy bull market structure and timeframe. Given BTC should correct around the same timeframe.
Wave 5 completes the cycle with the target being anywhere above $200 and the ATH. No point in speculating the ATH as price discovery can lead to exaggerated targets however personally the target should be close to ATH of $400-500 as this will represent twice the market cap of MOVR at initial ATH (adjusting for token inflation)
Combined with bagholders offloading at ATH this should be a good final target
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.