📊 $VIRTUAL Short-Term Pullback
The rally from the August low has ended, and price is now looking for at least a 3-wave pullback to correct that move.
The initial target for the pullback comes at the equal-legs area of $0.66 – $0.63, from where a bounce higher could occur.
If that bounce fails, the move could turn into a full retest of the July/August lows around $0.52.
The entire move from the July low is showing a 3-wave structure, so nothing has denied yet that price could make new marginal lows before the real reversal takes place.
#Crypto #Trading #ElliottWave
The rally from the August low has ended, and price is now looking for at least a 3-wave pullback to correct that move.
The initial target for the pullback comes at the equal-legs area of $0.66 – $0.63, from where a bounce higher could occur.
If that bounce fails, the move could turn into a full retest of the July/August lows around $0.52.
The entire move from the July low is showing a 3-wave structure, so nothing has denied yet that price could make new marginal lows before the real reversal takes place.
#Crypto #Trading #ElliottWave