Edgeless (EDG) Making a Solid Bounce Off a Long Term Support Within a Broadening Pattern
SUMMARY
Edgeless (EDG/USD) correction could soon be pronounced as complete IF it can put in a couple rounds of impulse motives. The below chart shows an ABC correction and the five wave down for the C wave looks complete. There is a potential for one more lower low but the current wave 5 counts complete to its own subwaves.
The longer term perspective always provides a better prespective. The below broadening pattern is quite evident. Price briefly pierced the lower white trend line and the green price candle shows a bounce is underway. On a longer term, the upper white trend line would be the target but before considering that, this bounce needs to be confirmed with two rounds of impulse moves up.
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That is a good analysis of edgeless cryypto, though the bitcoin is at a state of static price... some crypto will move up and knowing which is the good news.
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hmm nice one :).
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