CIFR shallow pullback still on the cards!

Price is in a macro wave 3, the strongest and most powerful move described as a “wonder to behold” by Ellioticians. When price is in a wave 3, pullbacks are shallow and few. Investors get overconfident and excited adding positioning without correct risk, swept up in the big move, aggravated by influencers and the media.

Testing the previous all time high at the 0.236 Fibonacci retracement and upper trend-line will be a strong support area and a place to look for a long, $14. While breaking out again into all time high could see price continuing its strong uptrend, this is doubtful as we have run the weekly pivots. Further downside has a target of the previous all time high and R1 pivot at $8.

📈 Weekly RSI is oversold with no divergence and can remain here for months as price keeps increasing.

👉 Analysis is invalidated below the weekly pivot and 200EMA ~$5