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Or do you think we already reached top of wave (V) and are now in the beginning of ABC correction?
I find this wave 4 very complicated to understand since I am a beginner. It's very flat (with resistance around 320 on Bittrex).
Any thoughts extremely appreciated! Thank you :)
What I don't like about this kind of analysis is it ignores the declining volume as it goes higher. It's broken pretty far from its several-week volume-weighted MA, which is always tough to sustain. I think a continued uptrend is definitely still possible in the big picture, but even if so I don't think the sailing is likely to be this smooth. I think we're likely to retest that support at just above 150 much sooner than this chart suggests.