IPO stock forming a base or a bottom.
Inference of bottom has been based on-
1: Fib retractament levels
2: RSI divergence on higher TFS
3: Spring action at above important levels
First logical target from here is definitely the IPO open price around 390-400 region.
Will update accordingly based on PA on the above region.
I would be no more bullish on it if...
The new trend to the upside seems to have started for ETH against USD. Market structure has broken. The targets are represented as rectangles. Also a weekly double bottom at play. A break and close below 300 invalidates this. Also with ETH 2.0 it can see a substantial pump up soon. A good 6 RR swing trade. Not a financial advice. Hope it helps.
BNBUSDT seems to have broken the ABCDE corrective pattern and is looking for a leg up. First and second targets are shown in the chart. A good stop is below 31 for this setup to invalidate. A good RR setup. Hope it helps.
A BNBUSDT daily view is shown in the previous post. Link is below.
Here is a daily Elliot wave analysis for bitcoin. It seems to have broken the corrective pattern ABCDE and is moving upwards. Expecting a move to near 12k as the first stop. Plan your trades keeping in mind the daily trend. Trend helps! We could be at the beginning of an impulsive wave up. Think long.
Daily time frame makes me think we are still in the formation of the B wave or maybe began with the formation of c in the ABC corrective pattern . It's bullish on the daily time frame as a whole as soon as we find a new bottom. Cannot guarantee a bottom now.
