We finally made another peak on the daily charts and came really really close to the .618 Fib level.
Technical: Based on Elliott Waves Analysis, we can confirm that WYX (Double three correction) has completed with proper Fib extensions.
I'm of the view that we will correct further because there has been no significant fundamental change in cryptocurrency to turn the market into a bull market.
Price went slightly further than what I had previously predicted.
Judging from the drop, we see that Sub-Micro Wave 3 has completed and we should push up for a Wave 4 correction before proceeding further down. This further coincides with many following the parallel channel who will be going long here hoping that the channel holds. I don't suppose the upward correction will go further than 7100. I'll be opening new shorts in the range of 7000-7100.
After this drop completes, then we shall have to reassess the Elliott Wave Count. Whether what we have is an ABC Correction or whether it's the start of an impulse wave down.
Previous Chart - Target hit but took way longer than expected.
Godspeed
_________________________________________________________________________________________________________________________
I'm not your Financial Advisor and this is not to be construed as Financial Advice but I can be your Legal Advisor if you can afford me.
Technical: Based on Elliott Waves Analysis, we can confirm that WYX (Double three correction) has completed with proper Fib extensions.
I'm of the view that we will correct further because there has been no significant fundamental change in cryptocurrency to turn the market into a bull market.
Price went slightly further than what I had previously predicted.
Judging from the drop, we see that Sub-Micro Wave 3 has completed and we should push up for a Wave 4 correction before proceeding further down. This further coincides with many following the parallel channel who will be going long here hoping that the channel holds. I don't suppose the upward correction will go further than 7100. I'll be opening new shorts in the range of 7000-7100.
After this drop completes, then we shall have to reassess the Elliott Wave Count. Whether what we have is an ABC Correction or whether it's the start of an impulse wave down.
Previous Chart - Target hit but took way longer than expected.
Godspeed
_________________________________________________________________________________________________________________________
I'm not your Financial Advisor and this is not to be construed as Financial Advice but I can be your Legal Advisor if you can afford me.
