Above 3069.58 we are looking to the upside for wave (v) of ((3))
Below 73881.4 we are looking to the downside to unfold wave ((4)) of wave 3. Possible targets 0.382 fib retracements also key level previous wave (4) 59112 zone.
Watching for evidences wave 2 ended 5.73 and now we start to build the wave 3. What we want to see before taking action is an impulse to the upside that clears 9.09 and 10.06 levels that will be the wave ((1)) of 3.
Matic may have been completed the 4h wave a Triangle pattern. We need the price to stay above 0.4926 and clear 0.9499 to turn the price up for the wave 5
Watching for evidences wave 2 finished 10.55. Clearing 15.83 we will focus to the upside for wave 3 looking for price to aim for the 1.618 projection multiple between waves 3 and 1.
Expending leading diagonal wave ((1)) is preferred status for this price action as it stays above 0.4874.
Ending diagonal wave ((c)) of 2 is preferred status for this price action. We are watching for evidences and clearing wave (4) 1.5915 will increase the chance to turn the price up. Price reached at a key support level, 0.618 fib retracement of wave 1. Also a possible oscillators indicators divergence at this level.
Above 13.927 we are looking the upside for wave ((3)) of 3 of (3).
Below 48.9254 we are looking to the downside to complete an ending diagonal wave (c) from a flat correction wave ((2)).
Below 1.05 we are looking to the downside to complete a zigzag correction wave (ii) of ((3))
The leading diagonal wave 1 is preferred status from 1.009 to 4.528. Below 4.528 we are looking to the downside to complete wave 2
Wave ((1)) a leading diagonal. Below 105.72 we are allowing wave ((2)) to unfold. Possible target 0.5 - 0.618 retracement area.
Two scenarios for Arbitrum. Black count where we have a finished impulse to the upside and we are going down to complete wave 2 if price clears 1.5427. Orange count where if price clears 2.0883 may be a tringle ((4)) and we are focusing to the upside to end wave ((5)). On this count we used log scale!
After completed a triangle pattern wave 4, above 0.6909 we are looking to the upside to complete a 5 waves structure, wave 5. Possible target 4.80 USD. On this count we used log scale!
Price overlapping makes me to think that we still are into wave 1 a leading diagonal. If so, I expect the next support level to be the 0.382 - 0.5 Fib. retracement of wave ((3)).
Watching for evidences wave 2 finished 0.702. Clearing 0.902 we will focus to the upside for wave 3 looking for price to aim for the 1.618 projection multiple between waves 3 and 1.
Impulsive price action add credence that wave (3) of ((3)) unfolds with possible target 1.618 fib extension. We used log scale on this count!
Below 0.1777 we are looking to the downside to complete wave (2) of wave ((3)). Possible target for the correction into the previous 4th wave of wave (1) of wave ((3)), approx. 0.1176 where we have also 0.618 fib retracement. Invalidation below 0.0823.