Lets have a look at what price action is telling us so far. keeping in mind that an Elliott wave impulse
(5 wave rise) usually comes off a complete and confirmed bottom (ie "double bottom")
1 double bottom at 003c (with bullish divergence on some indicators) ..tick
2 a good vol push on the wave 1 took price above resistance at 006c...tick
3 the retrace on light vol found new support at the old resistance area. 006c...tick
4 new and even larger vol came in at support and carried price above the last high at 009c. again
(typical of a wave 3)...tick
in summary old resistance becoming new support , price expanding, vol expanding,..only one way to go imo.
typical wave 3 target 1.618% is around 02c.
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