COTI [1W] - ElliottwaveI: Impulse 2019-2021
II: Expanded flat correction (3-3-5)
III: Momentum phase next up
Red C-wave ends with a descending broadening wedge, 'E' hit almost the 0.618 retracement of ATH-ATL
Targets III: $3-15, $5 main
When zooming in it's clear that wave A through E within the wedge can be complete: each wave can be subdivided in a 3-wave (A-B-C).
Chances are that the $0.04 line gets tested. The latest move up is reminiscent of a potential bear flag.
This wouldn't break the macro structure at all
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