Here was a request - Spotify. Crazy swings we are seeing
From a massive breakout rally, then into a huge flush, where is this going. Well to me it looks like we are going down for a wave 2 to backtest that breakout. That is a great R/R level to go long. Here we are right between the 61.8 and 76.4 retracement (good zone to find wave 2 support) and we have the 100 extension of our wave Y sitting at 221. The red circle should be where this finds bottom if it goes slightly lower.
If this bull count is correct SPOT could see a huge rally up into the 300's by year end. Market is going to need to play ball most likely though, otherwise this could fail back under the trendline support. Time will tell, but I hope that you bulls get your 300+!
From a massive breakout rally, then into a huge flush, where is this going. Well to me it looks like we are going down for a wave 2 to backtest that breakout. That is a great R/R level to go long. Here we are right between the 61.8 and 76.4 retracement (good zone to find wave 2 support) and we have the 100 extension of our wave Y sitting at 221. The red circle should be where this finds bottom if it goes slightly lower.
If this bull count is correct SPOT could see a huge rally up into the 300's by year end. Market is going to need to play ball most likely though, otherwise this could fail back under the trendline support. Time will tell, but I hope that you bulls get your 300+!