This is my first "analysis" that I have done on my own since teaching myself Elliott Wave and watching crypto markets. I find it very hard to make micro counts so it is easier to stay big picture. The recent signs tell me that we could have a bullish 'pop' to help EOS get out of its hole that it found itself in this past month. So assuming that the move from $0.50 to $18 could be a truncated 5th making that move from $3.5 to $23 a big B-wave top. Based on ElliottWaveTrader's Fibonacci Pinball, I have to place the truncated 5th/ circle 1 around the 0.618 of the movement. Then assuming that we have bottomed at $1.55, I then place the 0 there at the hypothetical bottom. Remember this could still be a fakeout and not be a bottom, but this is just my bullish case against EOS. Then this tells me that the circle 3 could be anywhere in the 1st box ranging from 1.618-1.382 of the movement or $46-39. Then it could retrace to 0.764-0.618 of the movement or $22-18. Then the final target of this 5 waves could be around 1.764-1.618 of the movement or $50-46.
If you see anything wrong in my analysis, please point it out in a nice manner. I am learning just like most people on this site whether they admit it or not.
*This is not trading advice, if you trade based on this and lose a lot of money please don't come after me*
If you see anything wrong in my analysis, please point it out in a nice manner. I am learning just like most people on this site whether they admit it or not.
*This is not trading advice, if you trade based on this and lose a lot of money please don't come after me*