Alikze »» FTM | Wave 3 or C super cycle scenario - 2D
2024-10-08

🔍 Technical analysis:  Wave 3 or C super cycle scenario - 2D 

- In the analysis presented in the  previous post  in the weekly time frame, it was mentioned: it is suspicious of a head and shoulders pattern.

  

- So far, according to the previous analysis, the first target (supply zone) has been touched and it is currently above the target zone.

- In the analysis presented in the 4-hour time frame, it had a zigzag pattern, which is in wave one of three.

- In the daily time frame, it is located in an ascending channel, the previous corrective wave was able to form a reversal pattern in the range of 0.23 fibo.

- Therefore, I expect that it will face demand in the Buyer Zone and continue its growth with the failure of the middle of the channel up to the ceiling of the ascending channel.

In addition, after breaking the ascending channel, it will have the ability to reach the red box area (supply area).

 So this bullish wave is wave 3 or big C, which will have the ability to grow up to the indicated ranges.

💎 Alternative scenario:  If the Buyer Zone is broken and stabilizes below it, it can touch the 0.23 Fibo range again.
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