ARC/USDT - Elliott Wave Completion and ABC Correction Expected
The ARC/USDT perpetual contract on Binance has completed a classic 5-wave Elliott impulse pattern, peaking at wave (5). Based on Elliott Wave Theory, a corrective ABC pattern is expected, with wave A initiating a decline.
Entry: Short position near wave (5) peak
Target: Wave C completion zone around 0.056
Stop Loss: Above recent high near 0.0817
The retracement aligns with Fibonacci levels and prior support zones, suggesting a potential pullback before further trend continuation. Manage risk accordingly.
Entry: Short position near wave (5) peak
Target: Wave C completion zone around 0.056
Stop Loss: Above recent high near 0.0817
The retracement aligns with Fibonacci levels and prior support zones, suggesting a potential pullback before further trend continuation. Manage risk accordingly.
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.
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.