Many were shocked at the movement of DOGE last night during his appearance on SNL. However the markets hold true to a measure of human psychology.
The SNL appearance of Elon Musk proved to be a catalyst for the market to rebalance below 0.47. Between May 5th and May 8th price for 4 days was completing a corrective Elliott Wave:c after having already pierced above the 0.67 to 0.73 Fibonacci 161.8 alternate price projection and 127.2 external retracement confluence, collecting liquidity to move lower towards 0.47 to rebalance in the area of an Elliott Wave:d. Should we see a bounce off of this area between 0.38 to 0.44 by the close of day, it is anticipated that price will continue to the upside to complete a full wave cycle at the 1.01 to 1.08 Fibonacci 261.8 and 2.0 Fibonacci zone Elliott Wave:e.
***Please do you own research as this is not trade advice.
The SNL appearance of Elon Musk proved to be a catalyst for the market to rebalance below 0.47. Between May 5th and May 8th price for 4 days was completing a corrective Elliott Wave:c after having already pierced above the 0.67 to 0.73 Fibonacci 161.8 alternate price projection and 127.2 external retracement confluence, collecting liquidity to move lower towards 0.47 to rebalance in the area of an Elliott Wave:d. Should we see a bounce off of this area between 0.38 to 0.44 by the close of day, it is anticipated that price will continue to the upside to complete a full wave cycle at the 1.01 to 1.08 Fibonacci 261.8 and 2.0 Fibonacci zone Elliott Wave:e.
***Please do you own research as this is not trade advice.
