Haven't seen any Elliot wave analysis for SUB recently so i thought i would give my input.
If my wave count is correct we may be about to finish of an ABC correction which has retraced to 0.618 fib which coincides with wave 1 and wave 4 of the previous run up. RSI indicates very oversold on the 1day and 4H charts. We are currently in the buy zone now however if you decide to buy now i'd put a tight stop loss as we are trading directly on the 0.618 fib with no real bounce or volume to support it. If this support breaks a fall to the 0.786 fib is likely. Alternatively wait for confirmation and we should see a new uptrend soon and i feel this coin is a very good project so a great long term hold.
* This is not financial advice*
If my wave count is correct we may be about to finish of an ABC correction which has retraced to 0.618 fib which coincides with wave 1 and wave 4 of the previous run up. RSI indicates very oversold on the 1day and 4H charts. We are currently in the buy zone now however if you decide to buy now i'd put a tight stop loss as we are trading directly on the 0.618 fib with no real bounce or volume to support it. If this support breaks a fall to the 0.786 fib is likely. Alternatively wait for confirmation and we should see a new uptrend soon and i feel this coin is a very good project so a great long term hold.
* This is not financial advice*
Bình luận:
Be very careful here guys still trading on the fib which is okay in the time being as btc is being mean watch both i think we will be okay if btc starts behaving again.