I still suspect crypto will recover and head towards ATH after this last wave down, but it is contingent on a quick retracement of wave-(c) to confirm that this count is correct.
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Seems like we'll get a retracement back into resistance above 0.4. It looks like this is forming a 5th wave extension terminal impulse which means we should get a blow-off wave going down to about 0.18, and then an extremely fast retracement of the entire terminal impulse before years end.
This move will sufficiently shake the weak hands from the market and transfer coins to the strong hands, and if my count is correct we should be beginning a new bull market after this wave.
Because this is an impulse it should relate to wave-(a) in time. Meaning we should bottom and start climbing to new highs after the 2nd week of December.
Looks like XRP is going to drop for a little longer than originally forecasted because we didn't actually form a full terminal impulse, just a normal impulse. Also, I didn't realize it before, but when wave-(b) is very long compared to wave-(a), then wave-(c) should take half the time of both put together. And at the rate this is moving we're likely only in wave-1 of an extended first wave extension, so it will take until at least april before we see a retracement of wave-(c).
That also means we could go as low as 0.02 on XRP, and that the upside target will continue to get revised lower to around 14-26.