ichorouswings

FUN still to drop, buy zone around 0.06

BITFINEX:FUNUSD   FunFair / Dollar
New here (only second post) - still learning, so thoughts are much appreciated!

We have a support level (blue) at ~0.087.

We have a short-term triangle (red), with a bullish breakout on 1/27. (I have the floor of the red triangle as either the green longer-term triangle, or the blue support level .)

We have a longer-term triangle (green), which has been unable to break out after sitting near the top since the end of the 1/27 breakout.

Looking at the bigger downward bearish correction after the 1/9 ATH             , I see a large wave C that has yet to be completed. It has held reasonably above wave A, so we do have a chance at it completing a double-bottom, going only about as low as wave A (~0.06). But, to get there in the first place, we'd see a sharp decline from where we currently stand (just over 0.10), so if we get that dip, it may be enough to push us to a lower C. I added a circular region (yellow) to indicate this uncertainty in how far C will fall.

To back up the expected downturn a bit more, taking a look at the MACD , the 12 just crossed under the 26 earlier today.

All in all, I'm expecting a low of 0.06 or lower, but then a return to recent levels of 0.10 - 0.15. If those numbers hold, that would be an increase of 67% - 150%.
Did it not complete an ABC aleady in terms of it's retacement from the high of 19 cents?
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