$IREN - RC -
Added 2024-07-19 19:14:36 +0000 UTCWidening channel here since the start of 2023 has been acting as a support and resistance levels a number of times over the last 17 months.
Price action hit the top trend line twice since June and has now rejected and pulled back heavy to test its 50 Day MA today, which is just above its 0.5 Fib at $10, making this a confluence level.
A relief bounce could come next for Wave B but I still expect a further low next to at least the 0.618 Fib at $8.60.
Comments
I also see this as a wave 4 pullback but can see Gary’s count with wave 1 the high in July of last year to go along with this abc he shows also as wave 4. All depends on BTC imo. If BTC breaks out have a hard time seeing this pullback
Byron Tanigawa
2024-07-21 19:55:11 +0000 UTCGar so you have this in post W5 correction? I have it in W4 of 3 - interested in that additional info if you have the time. So agree might come down to mid 8s but then I have it going to $20 - the amount of energy they adding the next 6 months is huge
TommyJR
2024-07-20 04:37:16 +0000 UTC
![Jive Faury [SDD Lab]](https://samsuka.com/istorage/43236.jpg)
