CRVCRVCurve DAO
$0.20
24h
-12.11%
14 Aug, 18:22

Bullish Wave 2 correction setup on CRV

Bullish-16.19%

AI Summary

The author presents a bullish technical analysis on CRV, viewing the current pullback as a Wave 2 correction and recommending entries on dips into the prior consolidation zone with invalidation at the $0.20 lows.

Based on the time and depth of the current pullback I have to assume that we are already in our Wave 2, correcting what I now assume to be a completed 5 wave impulse off the .20 lows. We are still technically holding the flipped supply zone which is our first area of interest on the downside. Remember, corrective moves like this can take a variety of shapes/forms, so if we DO start moving back up to the highs we should try and identify whether that move occurs impulsively (next impulse has begun) or correctively (move up is just part of the corrective Wave 2 and a potential fake out). For those looking to hop on the train, any dips into the consolidation zone that preceded our impulsive move (zone in BLUE) would be the ideal entry, with a clear invalidation level at the .20 lows. ethereum:0xd533a949740bb3306d119cc777fa900ba034cd52

More Views About CRV