Sadly everything that goes up must come down... but Zilliqa still has room to grow, especially with Consensus coming up on the 14th. Not much to say about this chart, aside from be sure to read the comments on the chart itself to understand the mess I've created. Main sell region is 1830 sats-1930 sats.
Taking a look at my chart you will see the possible EW setup forming. We could be in the third impulse wave heading for the 1.618 extension of wave one. Only concern was the deep wave two retracement of wave one.
Well this chart is simply showing my thoughts and ideas about the short term price action of Zilliqa. I am willing to bet we will see a minor correction somewhere around the 1245-1270 sats price range, however, that is just for the subwaves. If you are curious about my longer term Zilliqa vision refer, then, to my other ideas on the 4hr and daily charts.
Well continuing my Elliot Wave analysis of Zilliqa it looks like we are in the early stages of the 5th Impulse wave. I have a vague sell region denoted by the red highlighted region on the chart (1400-1560). This is my best case scenario. Please share any thoughts or suggestions :)
I remapped the two buy regions to 950-900 sats and 850-820 sats as indicated by the green regions. This chart now shows the EW following the rules of wave measurement ratios, which are shown using fibonacci retracements and extensions. Only concern was that wave 2 didn't retrace to 50%-61.8% of wave 1 like it should have. Otherwise everything else seems to be looking good.
Looking at the daily chart of ONT you will see a clear beginning formation of a 5-3 Elliot Cycle. And lucky for us it seems to be nearing an end of wave 2 and beginning the impulse wave 3. Any thoughts?
On the daily chart an EW is in the works! If we manage to break the resistance at 13 then I would say with confidence that we are truly in impulse wave 3. And if it turns out we are in fact riding the aforementioned impulse wave, then I would expect a run all the way to around 25-26 since this is the 1.618 of impulse wave 1. Any thoughts ?
Haven't mapped out my entire idea yet, however, this is a taste as to what I'm currently thinking. Key buy region is from 820-700 sats, but there is a chance to see a reversal around the 1000-900 sats range too!
Taking a look at the highlighted regions labeled 2 & 3 colored light blue, you will see resistance and possibly a reversal. If the price action corrects down to the first green buy region from the 2 light blue box then I would assume that this most recent run was the third Impulse wave and the previous wave 3 was actually just the first impulse wave. However, if...
Looking at the messy graph I've put together you will notice two Elliot Waves. The dark blue is one possible path and the light blue is another possible path. They agree with each other up until Trend Wave 2, then they each give a different end point for Trend Wave 3. The dark blue's Trend Waves 1-5 end and its A-C Waves begin then it proceeds to start over at...