GMX/USDT completed the 5 waves of Elliot Waves and now it at corrective phase.
- Wave B pull back to 0.618 of wave A.
- Bearish momentum.
Potential short to the next support. As in few hours there will be CPI news coming out so be careful while trading.
After a sudden drop there is a buyers recovery.
On buyers recovery OP/USDT Made rising wedge ( Which is bearish pattern)
Fib 0.618 en-line with Resistance level, and it got rejected with inverted hammer from resistance.
Hoping for a drop to next support for TP!
TIP : "Remember, after every drop there is a buyers recovery and we drop back down to the same...
- After the drop FTM broke the major Daily support level. The same level is now resistance on 1Hr, 4Hr and Daily time frame!
- Retested Multiple times
- Bearish momentum on resistance
Expecting another Drop on FTM