As we can see from my chart, we are finishing up consolidation in the corrective wave C. The symetrical triangle formation shows me that there's uncertainty about the price, but because the RSI is seemingly on the low side and pointing down, I think we'll consolidate for a bit longer, maybe testing the support at 0.0012 region where I have plotted the end of the C wave.
Personally I don't think we'll consolidate that long, but you always have to take into account the most bearish scenario.
I'm holding out to see what happens once we have formed our symetrical triangle, and then I'll make a play. For me, 0.0012 is a great entry point, as we'll likely test .002 soon enough.
I hope you can take something from my analysis that helps you make better decisions in your trading. If you have any ideas you would like me to cover please don't hesitate to hit me up!
Peace.
- B
You nailed it.
haha thanks. I have just updated my STRAT chart. Check it out if you can and let me know your thoughts!