TRB/USDT 4H Timeframe - Elliott Wave Analysis
In this article, we delve into the Elliott Wave analysis for the TRB/USDT trading pair on the 4-hour timeframe, providing insights into the current market structure, Fibonacci levels, and expected movements.
Current Wave Structure
The market has recently completed a triangle pattern, a common Elliott Wave formation. Following the completion of this triangle, the price has entered a correction phase, which is now developing further.
Fibonacci Levels
The Fibonacci retracement levels play a key role in identifying potential price movements during this correction phase:
First Fib Level: 93.088
Second Fib Level: 82.253
Third Fib Level: 75.405
Target Level: 61
These levels highlight areas where price retracements or reversals are likely to occur, helping traders anticipate market behavior.
Wave Sequence Overview
Previous Waves:
Wave (W) and (Y) have already completed their cycles, indicating prior phases of the Elliott Wave sequence
Current Wave:
Wave (X) represents the ongoing correction phase that followed the triangle pattern.
Current Market Phase
After the breakout of the triangle pattern, the market is exhibiting signs of a bearish correction. This suggests that downward pressure is dominating, with potential further declines in the near term.
Next Expectation
A continuation of the bearish movement is anticipated, possibly driving the price toward the $40 target level. Traders should prepare for this potential scenario, keeping an eye on the key Fibonacci levels as milestones along the way.
Important Notice
Always implement proper risk management strategies to protect your capital.
