SaranrajPrakasam

SaranrajPrakasam

Reason to take this trade Strong FA and News 1.Top 10 in market cap-5,831,430,140 USD 2.Mainnet launch on may 31st Supporting TA 1.Wave 2 retraced to the fib golden pocket and wave hit 1.618 Fib extension of wave 1 and wave 2 2.wave 3 has retraced 0.38 fib (May retrace upto 0.5) 3.Very good possibility that wave 5 will hit 2.618 fib Target Target 1...

SaranrajPrakasam

Possible Downtrend

SaranrajPrakasam

considering we had a wave failure... we assume we are completed the Wave A of ABC correction.with recent swin high -9217.5 and swing low-6404.5 With wave A we can assume a dead cat bounce of .236-.38 fib retracemnt. However we have already above .236 fib , Based on the fact that we are yet to complete wave B with 3 waves up,The possible target is .38 ..i.e...

SaranrajPrakasam

We are reaching the 0.78 fib retracement of recent swing high and swing low (6000-11788) and the elliot count matches as well