Somebody told me on social media that you can count the move since Sep 2019 as an expanded flat and by the looks of it, he/she can be right.
Guidelines
• A corrective 3 waves move labeled as ABC • Subdivision of wave A and B is in 3 waves • Subdivision of wave C is in 5 waves impulse / diagonal • Wave B terminates beyond the starting level of wave A • Wave C ends substantially beyond the ending level of wave A • Wave B = 123.6% of wave A • Wave C = 123.6% – 161.8% of wave AB
If true, this would be big because this makes me believe that we'll see further bearish continuation into June where EOS can make a double bottom at $1.61.
Why $1.61?
Well, that's where C would be 100% of wave A. And above all, wave Y (purple) would touch the 61.8% of wave W there. The absolute minimum for the bigger picture. The confluence between both cycles makes me believe that we really can't exclude this scenario!
Bullish alternatives
However, there are still other scenarios where we can see a reaction high into June followed by a crash later. I charted two of these scenarios that you can find here (click on them for further explanation):
1) Flat:
2) Double three:
Conclusion:
• Short term monitoring is necessary to catch a possible money wave • June/July is a very important turning point
PS: I usually don't like to share long term counts because some things can change in the blink of an eye but I hope that those scenarios can make you a bit wiser about what we can expect in the future.
Lol dude, it are three high timeframe scenarios that need further monitoring in the future. I highlighted that several times in the text and in the double three/flat scenarios (which are clickable). The fact that you think this is vague tells me a lot about you. But that's ok, in trading we also need some fools to buy/sell the tops/bottoms.
@LunarExpress, lol , you are advising on TradingView doesn’t make you any better.
You can’t discount the fact that people are working at a better place for better price :p
YashKapoor
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@LunarExpress, showing two possibilities. Dude there are always two :D or the last one remaining static. Since crypto is volatile the static one is ruled out