$NOT Hey Binance family, let's dive into some interesting price action happening with NOT (Not)!
A Multi-Level Wave Analysis
The chart for NOT is showing a complex wave pattern, making it a bit trickier to interpret. Here's a breakdown:
* Big Picture ABC: The overall trend is likely an ABC correction. This means we've seen an initial move up (wave A), a retracement (wave B), and now we're potentially in wave C.
* Wave C's ABC: Wave C itself appears to be another ABC sub-pattern. This adds another layer of complexity to the analysis.
* Triangle Within Wave B: Within this sub-pattern, wave B is forming a triangle with 5 sub-waves (ABCDE).
What Does This Mean?
* Potential for Further Downward Movement: Given the complex wave structure, it's likely that NOT could experience further downward movement as wave C unfolds.
* Patience is Key: It's important to be patient and observe how the price action evolves within these nested patterns.
What to Watch Out For
* Breakout Confirmation: Keep an eye out for a clear breakout below the current price level. This would confirm the continuation of wave C.
* Potential Targets: Technical analysis can help estimate potential price targets for wave C.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please do your own research before making any investment decisions.
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