This chart appears to be a possible and valid wave count.
Wave-1 and wave-4 doesn't overlap.
Wave-3 is a 1:1 extension of wave-1.
Wave-4 retraced to the 0.65 Fibb of wave-3.
Still, be super cautious because of the FUD news circulating today.
Binance ordered to be shut down (shown as rumor/false) and others.
Wave-1 and wave-4 doesn't overlap.
Wave-3 is a 1:1 extension of wave-1.
Wave-4 retraced to the 0.65 Fibb of wave-3.
Still, be super cautious because of the FUD news circulating today.
Binance ordered to be shut down (shown as rumor/false) and others.
Note
What I see is wave-5 failure (other counts don't add up).I know that most TA ignore fundamentals/news, however, this is my view on the market's recent behavior.
I see 5 impulse waves forming as expected, then at exactly the same time of Binance FUD (17hr ago), it fails/breaks down into an ABC correction.
Meaning, large crypto holders dumped heavily on the market once they saw this news, detailing our active bull-run, and causing 5th wave failure.
pbs.twimg.com/media/DY8fimlU8AAdL40.jpg
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.