Verge broke the down from the main channel, following the correction like it should. The question is: At which fib level will it go up again? Normally the 0.6 range will do but since it's a pretty bull Elliott wave structure, I assume either 0.3 or 0.5 level, with 0.5 being the most likely one.
"NOT a financial advisor, seriousness reduces life. Make sure you feel blessed when waking up, millions of people died during their last night sleep."
The quick rebound has me a little worried. I see .5 range also but it seems a tad early and short. Maybe we will see a double or triple. I wouldn't expect the price to rebound for wave 3 until the day of the announcement. If we are short of .383 or .5 I would have to say we are going to see a double before wave 3 kicks in.
richardwittekoek
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@GunTotnHippie, Yes the rebound was pretty strong, I agree we have to keep a close eye on the situation. Currently it touched the bottom of the channel but dropped again to fib lvl 0.236 where its resting at the moment.