I think we are playing out a FLAT here currently, which should bring us up to the marked range. Personally, I do not feel we are ready to breakout of that yet, as my narrative with Bitcoin would get us up to upper 30k when this plays out. Should see a rejection that would then go in harmony of Bitcoin retracing back down to lower 20k... from there, we then take off for a bullish outcome.
Accumulation range ATM... Proof of Work is the smart/regulated approach and with Ethereum CRYPTOCAP:ETH departing from this realm, it opens the door for likes of Kadena to take the lion share. There will be other competitors, but the team behind Kadena and the technical aspects it can be considered for in the realm of the trilema and all... we are in total range to be accumulating why you can ATM.
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"while you can" ...
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I feel like a FLAT is painting for the 2nd Wave of Kadena - which would present a fakeout of the high. Igniting a stronger sell off. Wave counts not targets just general area/direction at this point.
Would look something like this (ignore time aspects):
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And now on to this... (updated degree marks) but same theory...
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We have to understand... Elliot Wave has multiple patterns AND levels that can play. So its not more a precise price point... but more of levels/ranges. Macro structure is playing as thought... we test downward for support around marked range.... and then we find a new high and surpass $1
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So Far So Good... initial inner waves forming as anticipated. Since this would be an impulse or ending diagonal down to finish (C). First was diagonal, then retracement of a Zig Zag, now formulating impulse down for the 3rd inner wave of C.
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Plan continuing as I had thought - Micro + Macro.. I think we should touch upper .50s before we start a greater move upward.
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Just minor retracement of move down... finishing ending diagonal. We bounce from marked range IMO
From mod @zAngus