On the daily timeframe analysis
The supposed wave 3 on the daily timeframe might be 5 because the Fibonacci Extension to that point is 300% which I would say is over extended for a wave 3 as opposed to the 168% and if 200% which in this case we got.
So I am considering this new bearish price action to be the beginning of a larger degree wave 2. meaning
RSRUSDT on midterm is bearish and we will have to wait for price to drop further down before entering.
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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.