If you followed my last analysis you know I was expecting a drop to this level, and surprisingly enough, price stopped precisely where i had marked!!
Now, im just an amateur in elliot waves so dont be surprised if price doesnt hold, but if my thesis was correct, price must hold this level while it get ready for Wave 3. Next wave should be the largest one, possibly a test of $1-$1.2 level again. I believe this week will be an interesting week as we watch the behavior of the crypto market and the stock market since i do believe there is some manipulated correlation happening on both markets.
*This is not financial advice. This is just me learning about elliot waves*
Now, im just an amateur in elliot waves so dont be surprised if price doesnt hold, but if my thesis was correct, price must hold this level while it get ready for Wave 3. Next wave should be the largest one, possibly a test of $1-$1.2 level again. I believe this week will be an interesting week as we watch the behavior of the crypto market and the stock market since i do believe there is some manipulated correlation happening on both markets.
*This is not financial advice. This is just me learning about elliot waves*
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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.