Due to lack of data on this coin, we are obliged to use an intra day timeframe,thus this analysis is based on 4hr and 1hr.
This analysis is based on Eliot wave theory.
Our bias is bearish, since we have already witnessed a trend change : higher high &higher low, lower low.
After that, it retraces to 50 Fib level (typical character of eliot wave ABC correction).
Wave correction A has already formed, and now B correction is forming which basically takes more than a and c.
I will be looking at 0.04 or 0.038 as my ideal entry for the and short time. And also 0.02 to 0.025 for the long time.
This analysis is based on Eliot wave theory.
Our bias is bearish, since we have already witnessed a trend change : higher high &higher low, lower low.
After that, it retraces to 50 Fib level (typical character of eliot wave ABC correction).
Wave correction A has already formed, and now B correction is forming which basically takes more than a and c.
I will be looking at 0.04 or 0.038 as my ideal entry for the and short time. And also 0.02 to 0.025 for the long time.