Throughout the past four months, Waves formed a triangle pattern. Currently, it is trading at the bottom of the triangle and has rejected the lower trendline of the extended uptrend channel. Still no clear picture indicating the direction of the next big move. However, the price for buyers is attractive indeed and could be the starting point for the next wave up.
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Yet, a breakout and daily close below $3 psychological support level could result in a continuation of the WAVES/USD downtrend. So it is a little too early to be very optimistic and perhaps wait until the new higher highs and higher lows will be established before buying Waves is a good idea.
