Trading MKRUSDT with Elliott: The Flip from Supply to Demand
⚪ As we analyze MKRUSDT's price action, a critical development emerges. The breach of a significant supply zone from August 2022 piques our interest.
⚪ What's even more intriguing is the transformation of this zone into a potential demand area, halting the current pullback.
⚪ This presents an attractive buying opportunity for traders and investors. Moreover, according to the Elliott Wave theory, #Maker may be in the midst of its 3rd upward wave, with our target set around $1895 (a 427.2% Fibonacci resistance).
⚪ Our strategy revolves around waiting for another higher high on the daily chart before pursuing a strong buying opportunity, which we'll promptly share in our channel.
⚪ What's even more intriguing is the transformation of this zone into a potential demand area, halting the current pullback.
⚪ This presents an attractive buying opportunity for traders and investors. Moreover, according to the Elliott Wave theory, #Maker may be in the midst of its 3rd upward wave, with our target set around $1895 (a 427.2% Fibonacci resistance).
⚪ Our strategy revolves around waiting for another higher high on the daily chart before pursuing a strong buying opportunity, which we'll promptly share in our channel.