This will be a 1-2month swing or a long term multi year swing - regardless I believe we have a big bounce coming and also the bottom may be in - People are underestimating tech atm which I think will be a mistake.
Good chance the bottom is in here and we're at the start of a macro wave 3.
Clear 5 waves up and abc down - should be in the early stages of a cycle wave 3 if our low holds - expecting this to do well and make new highs in the future.
The future is multi chain - ATOM stands to benefit very well - from a wave pov it looks like we're at the start of a cycle wave 3 which will see prices go parabolic and make new highs in the future - I'm Bullish.
Fear is high and all the bottom shorters are celebrating once again - as usual these people are typically always wrong as they're the herd bahahaha - All their views are derived off the news on any given day and is subject to change as the news does - that's why they can never buy the bottom/lows - the best buying opportunities always come when the news/sentiment...
The herd is screaming short again and how we're going to make new lows! - This will likely end up a very good buying opportunity for those brave enough to pull the trigger - 3636~ will be a significant low/bottom.
Fear is back again as the bottom shorters rejoice at this short term drop - It's going to be bought up so fast lol - We're in for a huge bounce 1-2 months or new bull run - take that how you want - reaction lines can nail a potential future high.
So this is a little different to previous ideas - the projected moves are done in log scale with log fibs - I don't rate this being that likely at all but it is a possibility - typically the linear charts do a better job at forecasting future moves.
Have plotted what I believe is the correct long term count for now - if our low is busted - future targets will change - Also have some reaction lines/fork if this move does something different.
So I have added the pitch fork and reaction lines for future price highs - the wave plot is a visual representation of what I can potentially see playing out (however the timing may not be) - Oracles will play a huge role in the future of blockchain and Link is the best play for it.
Yep Bottoms in - expecting this to rip very hard - reaction lines should tag a potential reversal - send it. Fractal may not play out but well see - Most likely it takes a bit longer and does not follow it.
Looks like a pretty clean count if I don't say so myself - can it squeeze another low? yes but it's not likely imo - probably a multi year long if the bottom is in - new highs should come sooner than people think if so.
I believe this correction has probably completed at this point and the bottom is in - if not and we break lower the fork is invalid as are the reaction lines - and a new fork would be drawn from our next potential bottom.
Yes I believe there is a chance we're currently in the early stages of a cycle wave 3 which will make news highs in the future - targets are derived off fibs but things could go much higher.
So there is a chance here we have already started a new uptrend which will be wave 3 - I expect prices to go up to around $9-10~ for this wave 3 if it is indeed one - besides that I have added blue reaction lines to tag a potential reversal in the future.
looks like another easy long here - great project/well funded - blue reaction lines to tag next potential reversal.
Like previous ideas even if this is a bearish bounce I believe it's going higher - blue reaction lines to tag potential reversal point.