Will most likely not have time to post tomorrow so i thought id chuck a little something up on this lovely night.
So far price action seems to be following what i have drawn out quite nicely, we have hit out A wave top of around $11,500 and now dropping for what looks to be our B wave.
We saw our RSI form another support line over the day which again was broken whilst finalising the end of our A Wave. To me that was confirmation that the wave had been completed.
Now the next support on the RSI sits fairly lower and may look like what we may bounce off to create our massive C Wave up!
However , as the C Wave is the largest , i would not be too surprised if we break this also and get a little oversold before bouncing very hard upwards!
Now this is where it gets a little interesting, here are my predicted landing zones for the final wave.
Initially i had the $11,200 - $11,300 zone, however i may extend it up a fraction with a possibility of a bounce also occurring on 11,353.
So yes , these below labelled zones are where i am assuming our B Wave will bounce off and bring on our major juicy C Wave! (aimed at the 12k Region)
Have a look out for these regions and just pray to jesus we dont end up dieing and dropping back into the trend line .. although its a fair way down that could make things get messy and fast.
One: $11,353
Two: $11,295
Three: $11,206
May not be able to post tomorrow so lets see how prices move and hopefully price continues to track as well as it has been!!
Legal Disclaimer: I have no idea what I'm doing and I'm not telling you to follow me or make investments based on this information, this is just my thoughts and ideas and what ill be following. Happy Trading!!
Thank you for the analysis.
Hope it helps!! Stay aware of price movement around my noted areas, all the best and appreciate the comment !