$IREN | Bullish Wave Update
Daily Chart Analysis
$IREN continues to defend the 0.5 Fib level of the reversal zone at $39.67.
The resistances above current price:
A. Anchored volume profile POC around $42 (orange).
B. Daily MA50 around $46 (blue).
BUT - If price keeps holding this level, it’s a constructive sign and increases the probability of an upside reversal.
Asaf Naamani@AsafNaamani
$IREN | WAVE UPDATE Daily Chart Analysis Price continues to respect the reversal zone, printing a higher low within it so far - a constructive sign. At this stage, it appears that Wave 2 ended on December 16, and the most recent pullback is likely a SUB-WAVE within the larger, MAJOR Wave 3. On a personal note: That final wave down, combined with the surrounding sentiment and behavior, was a textbook Elliott Wave psychology odyssey. Will continue to track price action closely.
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