So waves was not mid-wave 3. The count is really strange on the wave 3, so I didn't think it had fully run it's course.
I -still- think the count is really strange, but there is no question that the corrective pattern broke below 0.0007251 - got as low as 0.0007060.
So this was a 5th wave corrective pattern. Touched below the 0.5 retracement line, and has been holding firm above there since.
I give it about a 60% chance that this corrective pattern is complete, and it should be starting a 5th wave up in the next day or two. May trend sideways for a while before picking up momentum.
I have to revise my end targets too. Based on Fib ratios I think the landing zone will be around 0.00091, give or take 0.00005.
Kind of a wide margin unfortunately, but there aren't too many good confluence zones to predict from.
Wave 1 would suggest it will touch the 0.001 line, and then fall back to around 0.000902.
Wave 3 line would suggest it will land around 0.000915.
Pretty giant field to play in. I think we can expect 0.00086 ata minimum, which is still a 17% boost from it's current price.
Good luck!
I -still- think the count is really strange, but there is no question that the corrective pattern broke below 0.0007251 - got as low as 0.0007060.
So this was a 5th wave corrective pattern. Touched below the 0.5 retracement line, and has been holding firm above there since.
I give it about a 60% chance that this corrective pattern is complete, and it should be starting a 5th wave up in the next day or two. May trend sideways for a while before picking up momentum.
I have to revise my end targets too. Based on Fib ratios I think the landing zone will be around 0.00091, give or take 0.00005.
Kind of a wide margin unfortunately, but there aren't too many good confluence zones to predict from.
Wave 1 would suggest it will touch the 0.001 line, and then fall back to around 0.000902.
Wave 3 line would suggest it will land around 0.000915.
Pretty giant field to play in. I think we can expect 0.00086 ata minimum, which is still a 17% boost from it's current price.
Good luck!
Commentaire:
Well there was what appeared to be a 5th wave, but it got heavily truncated and only got as high as 0.00085 before falling again. Overall the 3rd wave performed fairly well, getting as high as 2.618 extension line of primary wave 1, but the 5th wave of wave 3 was outperformed by the 3rd wave of wave 3, which doesn't bode super well for this coin's momentum. There's a good chance this is going to retrace further (currently at the 0.382 retracement line for wave 3) - and there's lots of room before it crosses into wave 1 territory (Peak was 0.00064). So we can expect several more days of slowly grinding downwards. The 4HR chart shows oversold RSI, so we might see a small bounce, but I'd be careful buying in, as it'll likely be given back to the market the next day.
Commentaire:
Another possible count is that this "5th wave" was actually a really extended ABC correction - and the bounce was actually a B wave. That would be an odd count due to it's twice hitting 0.00085 instead of just once - so this is not my main count. If this possibility IS true, however, it'll probably bounce hard once the daily RSI resets to the RSI trend line - which would be fairly soon - 24 hours or less I guess.
