Text describes my view on the current situation,
TLDR $35 coming by march with TP targets shown on blue elliot wave
The triangle breakout and retest shows that new momentum could be returning if we can confirm the lower high structure
The move to $44 resembles a leverage liquidation event and for the time being I believe we will start clawing back the gains from that huge move, using Fib retraces and targeting the .702 area
This gives us our shorter term targets (timeframe approximately 6weeks give or take until end of march)
TLDR $35 coming by march with TP targets shown on blue elliot wave
The triangle breakout and retest shows that new momentum could be returning if we can confirm the lower high structure
The move to $44 resembles a leverage liquidation event and for the time being I believe we will start clawing back the gains from that huge move, using Fib retraces and targeting the .702 area
This gives us our shorter term targets (timeframe approximately 6weeks give or take until end of march)
הערה:
Price targets still in play
$61
$88
$165
$61
$88
$165
הערה:
1.618 and 1.272 respectively
This gives us an outlook of where to look to base next before penultimately moving to 72-94 range