technically this would not be a valid wavecount because in 5-counts, wave (4) is not supposed to intersect with the end of wave (1). regardless, I see XLM going beyond 1100 satoshi in the coming days.
if you want to read up on Elliott Wave theory, you should definitely read "Elliott Wave Principle" by Frost & Prechter. it's a difficult book and you will likely have to read things many times to understand it because of the complexity of the theory, but I highly recommend it if you have the time.
whiskey4
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@team_USA, what do you think about the volume from 14000 btc to 7k? i guess it might hold 600s possibly drop to 500s. is the 3rd wave up still valid if we go to .00000500s ?
team_USA
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@whiskey4, I see it potentially going between 550-500 satoshi before we see another significant leg up. it technically wouldn't be "valid" in the context of the theory, but it is difficult to properly apply EW to (generally) lower volume altcoins; I still think it'll go beyond 1100 satoshi from there, and even more in the future.
if you want to read up on Elliott Wave theory, you should definitely read "Elliott Wave Principle" by Frost & Prechter. it's a difficult book and you will likely have to read things many times to understand it because of the complexity of the theory, but I highly recommend it if you have the time.