This is plan B to the last chart I've posted.
By Wolfe strategy, the price should get to all 3 beige lines.
After being rejected by the first one (blue), it went back up, closed above, retested and went to the next one (green), got rejected and now closed above and retested it.
So I see 2 possibilities :
A) since the price closed above and retested second Wolfe line, I can assume, it's on the way to a third one from here (purple). ETA is may 19th 2019. EPA around 6.8k. Short squeeze could fuel the move up, public sentiment is bullish.
B) there are many bearish signals at this moment. Bearish divergency has been going for days. There is one year resistance at 6k region. It could correct from here and come back for the third Wolfe line (purple) later. Also, nothing is ever guaranteed :) Wolfe wave strategy fails too.
According to Wolfe wave strategy, once the price has closed above black line (2-4), the market is bullish with significant correction when reached Wolfe trend line (the last one is purple).
Stay safe ;)
By Wolfe strategy, the price should get to all 3 beige lines.
After being rejected by the first one (blue), it went back up, closed above, retested and went to the next one (green), got rejected and now closed above and retested it.
So I see 2 possibilities :
A) since the price closed above and retested second Wolfe line, I can assume, it's on the way to a third one from here (purple). ETA is may 19th 2019. EPA around 6.8k. Short squeeze could fuel the move up, public sentiment is bullish.
B) there are many bearish signals at this moment. Bearish divergency has been going for days. There is one year resistance at 6k region. It could correct from here and come back for the third Wolfe line (purple) later. Also, nothing is ever guaranteed :) Wolfe wave strategy fails too.
According to Wolfe wave strategy, once the price has closed above black line (2-4), the market is bullish with significant correction when reached Wolfe trend line (the last one is purple).
Stay safe ;)
Comment:
Considering rejection from black dotted line, B looks more probably atm.
