Hello Crypto traders, today we want to update our SHIBA chart from April 1st, which is now finally back to the starting point of mania cycle as expected.
From Elliott wave perspective, we have been tracking (A)-(B)-(C) correction from all-time highs and wave (C) can be actually already completed, as we see a completed five-wave cycle of the lower degree.
From technical point of view, it's trading at ideal support zone at the starting point of mania, but to confirm low/support in place and bullish reversal, we need to see a recovery at least back to 0.000020 area.
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Great ,but you want to tell us the third wave is smaller than a fifth wave?
ew-forecast
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@PrinceCassad, third wave can be smaller than fifth, but should not be the shortest, that's the rule. So, if the first wave is smaller than third wave, then structure is valid.