STATUS (SNT): MACD is Signaling a Potential Breakout

SUMMARY

Status (SNT/USD) could soon initiate the price climb to regain it's near $1 Bil market cap. The below chart shows that the contours of the price since late December to current can outline the shape of a rounded price formation. For now, the ABC seems complete but a bit of basin basing might be required.

The blue rectangle shows the basin phase zone and form there the right wall side of the rounded cup formation will likely take place. Since symmetry is key in patterns, it's likely that wave 5 will equal the left wall height.

The MACD shows that the breakout from the basin zone could be earlier than expected. IF so, then blue wave 1 could surge in a near vertical scale.

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Tutorial on the use of Fibonacci & Elliott Waves
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