The correction went beyond gray support, which is now serving as resistance.
This resistance, along with the green ascending trendline that was broken, are now holding price.
My primary count considers black C has already finished, and we're in a new upside. The secondary count (based on the lack of RSI divergence) considers one more leg down is due.
A break of the purple line would indicate bulls are back in control.
This resistance, along with the green ascending trendline that was broken, are now holding price.
My primary count considers black C has already finished, and we're in a new upside. The secondary count (based on the lack of RSI divergence) considers one more leg down is due.
A break of the purple line would indicate bulls are back in control.
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📈 Experienced Crypto trader
👍 Simple, actionable content
🌊 Elliott Wave junkie
🧠 Trading psychology hacks
🎖️ Premium VIP Discord Server ($4.99/mth for a limited time - check link below)
linktr.ee/stoic.trader
👍 Simple, actionable content
🌊 Elliott Wave junkie
🧠 Trading psychology hacks
🎖️ Premium VIP Discord Server ($4.99/mth for a limited time - check link below)
linktr.ee/stoic.trader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.