Anarchomania
Short

Flat correction?

KRAKEN:ETHUSD   ETHUSD
111 4 2
Alternate wave count ( flat correction ) from previous count ( ending diagonal ) -
Since the most recent rally seems to have unfolded in only 3 waves, an alternate wave count now fits better. This one names the first top wave 5 of the larger degree of trend and the second top as wave B of a regular flat correction (either that or B is a truncated 5th in which case the expectation remains the same - bearish ). Note that in a regular flat (3-3-5) the C wave should reach beyond the extreme of A, but probably not too far beyond. Note also the big figure at $8.00 around that target point for possible support.
Is this count about to be invalidated?
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At what point would you call this count invalidated?
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Cryptolicious Cryptolicious
ah sorry, asked the
same question twice.
Reply
Anarchomania PRO Cryptolicious
It would become invalid if it breaks the previous high.
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