Price breakout from falling wedge and presently completed a cycle above it, with possible re-test action in progress.
More so, we have possible SHS formation with price breaking down the neckline which confirm possible down move for the coin to have at least a re-test on the wedge structure.
Kindly follow the suggested buy zone on the chart and always remember to apply stop loss according to your risk mitigation.
Almost impossible as this was wave 1. Wave 2 can never fall below the start of wave 1 as this will invalidate the theory. One thing that could play out(and then you are right) is that this wave was wave 4 correction instead of the start of new impulse waves up. Also the 3rd wave as you suggested is invalid(it is not the longest wave).
Good luck and hope you make lots of profit in the future.
Happy trading!
weslad
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@prevaxbass, I dont think i talk about any wave from this analysis. Please do check it very well again, before dropping comment.
Ickyfiser
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@weslad, you stated a complete cycle. What did you mean by that? I really think that wave 3 is starting to play out right now.