OMGETH Bitfinex W – Broad Wave III?

I am speculating that we are potentially in a broad wave III and mid-term wave 3 in OMGETH (Weekly chart). Price ran from 0.0021 to 0.045 in wave I gaining 2000%. Then retraced to 0.0124 in a wave II. Price reversed from there and completed a minor wave 1 and 2 (part of wave III) and recently started its wave 3. If I am speculating that wave 3 is part of wave III and wave III can go to at least 1.618 extension of the first bullish swing and considering that wave 3 cannot be the shortest most likely wave 3 can reach the previous ATH which is actually approx. the 2.618 extension of wave 1. Then wave 4 and wave 5 would complete the broad wave III reaching 1.618 level of current ATH.

There are some nice fib overlaps:

• Wave II retrace went exactly to 0.236 fib of first broad bullish swing (wave I).
  Wave 1 top overlaps with 0.382 fib of wave II approximately.
  Wave 2 was 0.382 correction of wave 1.
  1.618 extension of wave 1 overlaps with 0.618 of previous downtrend (wave II).
  2.618 extension of wave 1 approx. overlaps with ATH.
  4.236 extension of wave 1 overlaps with 1.618 extension of wave I.
  

In addition the downtrend line that connects wave I and wave 1 tops has just been broken with a current bullish candle (still 2 days to close).

RSI is above 60. Volume is low though – an increase would be needed.

I have been entering during wave II at 0.0185 and 0.0205 levels and in wave 1 at 0.0155 and so I am hoping to have this played out nicely.

These are only my personal views and is not trading advice. Please do your own research and trade carefully!

Comentário:

On daily - seemingly Is nicely rejecting support and resuming the mid-term trend.
Ready for the next swing up.

Comentário:

I have not been here for a while, apologies. Seemingly if speculating for a broad III wave movement we may now only be in the wave 2 of this move still. Price is at a critical and old support - 0.382 level of the first broad bull run. Volume is low though.