Bluzelle! Man I love this coin. Super neat concept they have going on, and when it moves, it likes to move dramatically. It's Wave 3 was an amazing 40% jump over 2 days. Caught most of it to my delight.
So it corrected hard during the BTC bloodbath yesterday, bringing it to within 400 sat of the peak of Primary wave 1 (6500 sat). Since then its bounced a bit and is hovering around 7200 sat. I think it's setting up for a wave 5 jump to finish off it's primary impulse waves, and probably within the next 1-3 days? The Primary wave 2 correction period was very drawn out, so I think this one should be shorter. It's already been correcting for about as long as the wave 3 took to complete.
Though whether it corrects more or goes into wave 5 will likely be determined if BTC decides to hold strong, or crap it's pants again.
Either way, the charts seem pretty clear to me that it's only had 2 primary waves, so we're due for a 3rd before there's a major pull back.
I'm predicting 9500 sat, give or take 700 sat.
Wave 3 hit just barely above the 1-1 ratio of Wave 1, so Wave 5 by this logic should land just above the 1.618 line (10200 sat)
Wave 3 1-1 ratio would put the Wave 5 final target at around 9500. Given that this is a wave 5, I think 9500 seems more likely than 10200.
And of course the 0.782 ratio of Wave 3 puts us closer to 9000.
So this is the likely range for Wave 5.
The Risk to reward is a bit more complicated on this one if you buy in now - 7200 to 9000 is a 1800 sat profit, but the peak of Wave 1 is around 6500, so the count invalidation is kinda wide.
That's only a 2.5 risk to reward.
The RR ratio for 9500 looks better at 3.28, and 10200 better still at 4.28.
If you're going to buy in now, I'd set your stops around 6900 or even 7000, as a break below that shows the corrective phase isn't complete, so you may as well cut your losses and wait to see where it goes.
Or you could wait! Up to you. But keep an eye on this one.
Officially the count is only invalidated if the price drops below 6500 sat.
Good luck!
So it corrected hard during the BTC bloodbath yesterday, bringing it to within 400 sat of the peak of Primary wave 1 (6500 sat). Since then its bounced a bit and is hovering around 7200 sat. I think it's setting up for a wave 5 jump to finish off it's primary impulse waves, and probably within the next 1-3 days? The Primary wave 2 correction period was very drawn out, so I think this one should be shorter. It's already been correcting for about as long as the wave 3 took to complete.
Though whether it corrects more or goes into wave 5 will likely be determined if BTC decides to hold strong, or crap it's pants again.
Either way, the charts seem pretty clear to me that it's only had 2 primary waves, so we're due for a 3rd before there's a major pull back.
I'm predicting 9500 sat, give or take 700 sat.
Wave 3 hit just barely above the 1-1 ratio of Wave 1, so Wave 5 by this logic should land just above the 1.618 line (10200 sat)
Wave 3 1-1 ratio would put the Wave 5 final target at around 9500. Given that this is a wave 5, I think 9500 seems more likely than 10200.
And of course the 0.782 ratio of Wave 3 puts us closer to 9000.
So this is the likely range for Wave 5.
The Risk to reward is a bit more complicated on this one if you buy in now - 7200 to 9000 is a 1800 sat profit, but the peak of Wave 1 is around 6500, so the count invalidation is kinda wide.
That's only a 2.5 risk to reward.
The RR ratio for 9500 looks better at 3.28, and 10200 better still at 4.28.
If you're going to buy in now, I'd set your stops around 6900 or even 7000, as a break below that shows the corrective phase isn't complete, so you may as well cut your losses and wait to see where it goes.
Or you could wait! Up to you. But keep an eye on this one.
Officially the count is only invalidated if the price drops below 6500 sat.
Good luck!
The upper level limit of wave 5 from this point is still around 9600 satoshi, which makes a pretty incredible potential return!
If the price drops below 6400 and stays under, then it's pretty clear that this count was wrong and the last spike WAS the 5th wave, and you should probably bail out as it's going to drop more. (5200-5700 satoshi range).