So if we rewind back to last spring, I had outlined the flat possibility at that time. I didn't think it would make it past ATH tbh. However it did and it made a beautiful flat with the length of A and C matching, which is textbook. Assuming this is correct and the B wave is not wave 5, we are in for a great year in crypto.
Dominance is also begging for a 5th wave down, which lines up with a nice alt season. Low bear volume on this down trend is much lower than in wave A which is a great indicator that if the correction is not done, we are very close.
I'm looking for another rush upwards very soon to complete wave 1 of 5, which should be followed by a minimum of 50% correction for wave 2. 100 EMA Weekly has held support and we are now stuck below the 55. I would expect a push up to the 21 EMA for this 1st wave.
Trade safe and remember to set a SL.
Dominance is also begging for a 5th wave down, which lines up with a nice alt season. Low bear volume on this down trend is much lower than in wave A which is a great indicator that if the correction is not done, we are very close.
I'm looking for another rush upwards very soon to complete wave 1 of 5, which should be followed by a minimum of 50% correction for wave 2. 100 EMA Weekly has held support and we are now stuck below the 55. I would expect a push up to the 21 EMA for this 1st wave.
Trade safe and remember to set a SL.
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Video learning on Youtube: www.youtube.com/c/flokicrypto
