🔥 WAVES Strong Correction: Fibonacci Reversal
WAVES has been on an absolute blast for practically all of March. However, the $60 area proved to be a very strong resistance and caused the current downfall in price.
With prices getting decimated over the last couple of days, I'm starting to look for entries. The overall market trend is still bullish, so I'm expecting WAVES to correct upward in the coming days.
The main area I'm looking at is the purple area on the chart, right between the 0.5 and 0.618 Fibonacci Retracements. This area is classically an area where reversals take place.
If we reverse towards the $40, I'll scouting for exits. Highly doubt that we're going to see $60 anytime soon again.
Happy trading!
With prices getting decimated over the last couple of days, I'm starting to look for entries. The overall market trend is still bullish, so I'm expecting WAVES to correct upward in the coming days.
The main area I'm looking at is the purple area on the chart, right between the 0.5 and 0.618 Fibonacci Retracements. This area is classically an area where reversals take place.
If we reverse towards the $40, I'll scouting for exits. Highly doubt that we're going to see $60 anytime soon again.
Happy trading!
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