Keep an eye on the Indian Supreme court decision coming tomorrow. If they decide to unban it, which is likely because even the RBI regrets banning it because it forced it into the shadows and out of KYC/AML exchanges, then that will likely be the catalyst we need to break up from the consolidation range.
Indian Supreme Court decision got delayed until the 17th. There's still a strong chance the courts could give the government a directive to regulate cryptocurrency.
There's also two time targets on that exact date. The first is where the large wave-(d) relates exactly to wave-(b) in time. The second is where the small wave-i relates to wave-h and wave-g by 0.618 in time.
If 6k support fails, we could test 5k, but either way this should end around the 17th.
This will probably stretch out to the next time target on the 25th, which is also the next possible day for the Indian Supreme Court to hear the case about the crypto banking ban. Seems pretty likely whenever that happens and the Indian supreme court directs the regulatory bodies to regulate the cryptocurrency industry, we'll see a pretty big price increase that could begin a long-term uptrend.
It appears that wave-(i) has started to form a symmetrical pattern itself. This is a fairly common occurrence for the last wave of the pattern to mimic the entire pattern.
This also implies that we'll continue to consolidate for about another week before finally breaking up sometime in early October.
Wave-i is currently underway, as forecasted. Price action has conformed extremely well up to this point and I feel very confident that we are going to see an explosive break up probably around the 8-10th, so be ready.
At this point there are virtually no other logical elliott wave possibilities, so the probability of this finally breaking up is more high now than ever before.
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