UPDATE (10/23): We're currently in the final thrusts of the wave. Based on most recent sub-wave counts and some educated guessing, looks like the bottom will be $340-350. Could be as low as $330~.
Praise be to the wave! (If you didn't know, we're in the corrective phase of the massive wave that brought us here from $620~.)
The following chart lays out my elliot wave count for the present. Its primary purpose is to predict the length of the impending wave-3 down. (Context: We're in a ZigZag correction, see related chart.)
It's entirely possible that my innermost wave count is wrong (the blue) or will turn out wrong. The bottom line is that we know that the correction of the recent downwave from $620 is ZIG ZAG -type corrective wave because the A wave has 5 parts (and no other corrective wave type has a 5-parted wave). We can deduce therefore that there ought to be TWO full elliot waves (ie this chart) following the most recent high and also that a major upward movement will come afterwards.
It's also, indirectly, scorns in the impertinent false idols: triangle, bullish flag.
Praise be to the wave! (If you didn't know, we're in the corrective phase of the massive wave that brought us here from $620~.)
The following chart lays out my elliot wave count for the present. Its primary purpose is to predict the length of the impending wave-3 down. (Context: We're in a ZigZag correction, see related chart.)
It's entirely possible that my innermost wave count is wrong (the blue) or will turn out wrong. The bottom line is that we know that the correction of the recent downwave from $620 is ZIG ZAG -type corrective wave because the A wave has 5 parts (and no other corrective wave type has a 5-parted wave). We can deduce therefore that there ought to be TWO full elliot waves (ie this chart) following the most recent high and also that a major upward movement will come afterwards.
It's also, indirectly, scorns in the impertinent false idols: triangle, bullish flag.
