✴️ Tellor | Double Down (Elliot Wave Theory)

Good evening my fellow Cryptocurrency trader, I hope you are having a wonderful day.

Correction potential for Tellor (TRBUSDT) remains intact.
The current rise is low volume and still trades below 143 or the 9-November peak price.

If you look at the trading volume it is exceedingly low compared to previous price action.

Looking from the Elliot Wave theory perspective, we know that the highest volume happens on Wave 3 of any impulsive move.

Looking at the bullish impulse, we can see high volume on Wave 3 while volume is low on Wave 5.
The perfect 5 wave count also points towards a correction next.

Now, the correction can be irregular as we are seeing with Chainlink or with Bitcoin's peak in 2021, meaning a higher high on Wave B. Or it can be a classic one where Wave B ends in a lower high.

Make sure to allow room to adapt for variations.

Bearish potential is high after a strong 1,830% rise.

Namaste.

Comment:

A lower high has is now being confirmed, which would confirm the correction thesis.

I shared Tellor (TRBUSDT) bearish together with other major Altcoins such as BNB, INJ, LINK, ETH, etc. As well as Bitcoin.

This group is moving together.
If one goes, the rest follows.

Here we have early confirmation with this pair.

Watch-out, the small and mid-size Altcoins can grow while the big ones correct.

The initial reaction can be negative though if Bitcoin drops and everything drops the first few days... But after the initial reaction, the major ones would continue their correction (lower) while the smaller ones recover and grow (up-higher).

Each chart/pair should be considered individually, separately for a valid reading and more accurate results.

Thank you for reading.

Namaste.

Comment:

This might be it...