ARUSDT Nearing End of Wave 1

19 ก.พ. 2024

Arweave broke out of its ending diagonal and is now nearing completion of the starting wave (1) of a new impulse. My target for the end of this expanding wedge is $15-18 - $18 is the technical target of the wedge breakout but this will likely be manipulated (higher or lower, depending on the leverage positions) because its so obvious. I'll hazard a guess that it reaches $16.5 (there is a weekly support here from the 2021 run that will likely act as resistance).

29 ก.พ. 2024

บันทึก

ARUSDT exceeded wedge target and has broken my original starting wedge trendline - a confusing chart because of the lack of a clear wave 1 pullback and this apparent wave 3; however, my conclusion for now is that we are still in a wave 1 starting [expanding] wedge - perhaps with 41.7 as the final target for bullish reversal of the larger trend; deep pullback may then follow; AR often reverts to the 0.764 or 0.854 Fibonacci retrace levels