HEX/USDC retrace on smaller degree correction
Hi everyone, happy trading. Here on HEX/ USDC we are currently moving up wave III (light blue) and are inside the 4th or 5th wave of the smaller degree. One of two things can happen according to EW Theory. We can either finish another leg up into the 10-13cents area for an ending diagonal . But this is unlikely since we've already had RSI divergence for the small wave 5 (red v). Or we are already inside the bigger Wave 4 (light blue) correction and are headed down to retest the 5 cents area. After this correction is finished we will be long again for the 5th wave of the larger degree (light blue) and end up somewhere between 25-30cents. UNISWAP:HEXUSDC
Limit orders around 5-6 cents could potentially be a good entry. Long term target for the end of the light blue wave 5 is around 25-33cents. Longer term target for the SuperCycle (White) is $1.8-$2.00. Patience will be a virtue on this instrument.
Happy trading and good luck!
Limit orders around 5-6 cents could potentially be a good entry. Long term target for the end of the light blue wave 5 is around 25-33cents. Longer term target for the SuperCycle (White) is $1.8-$2.00. Patience will be a virtue on this instrument.
Happy trading and good luck!
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