Zcash may be entering into its second wave.
If this count is correct.
Then this may be the bottom.
Also allowed, without invalidating the count is the possibly for one more low (demarcated by the green line)
f this isn't the 'Bouncing Point'
Then I think we might see a relatively low BTC 4.37% price in the coming month.
Targets are below 5k.
If we start heading this direction I will give clearer targets when more data comes in.
I most certainly wouldn't complain about that.
Long term is always bright.
There is a possibility that this is the completion of a double zig zag, ending the sequence with a falling wedge.
There is also a possibility that we get a failed impulsive wave and start a triple zig zag combination. (WXYXZ)
There is little space on the bottom for this to happen, without invalidating the possibility of a second impulsive wave on the larger...
If the market decides to correct further.
I think this could be a high probability possibility for NEO.
There is also a chance, that rather instead of a Triple Elliot combo. There is a Double combo, and where I have market the 'X' at $90, there could be a 'B' of an ABC starting at the 'Y' Marker completing a Double Combo.
Im leaning towards a triple Elliot wave...
If this is not the bottom, then there is room for one more leg down for this count to still be valid.
NEO has been trading perfectly technically.
A Bearish Count will follow.
70% - Bullish
30% - Bearish
Indeed this is a strange count.
But if you were to measure all of the points I have labeled,
you would find perfect matchings with Fib Extensions.
Leading to high probability outcomes related to the Elliot count.
I propose that we will reach 100 USD fairly shortly.
That is if this is the count.
BTC doesn't correct, and pull everything down with it.
This is one of the most tricky counts I have seen.
Extension within extension with extension.
Buying near the top is always risky business.
But I forecast a possible last wave up,
probably over exceeding what most can predict.
There is a possible 44 dollars still on the table.
I don't see this being the end of the third wave on the larger degree,
Neo has been rather tricky to count as of recent.
This is one possibility I have come up with.
This is Bearish for the short term,
But bullish past a 2 week period,
if indeed we this is a completed 5 wave structure,
and we get another 5 waves going up.
We have hit the 261 Fib extension perfectly, singling for the possibility of a completed extended 5th within the 5th of the 5th.
If BTC decides to compete its correction fully, then this is the count I will be playing
This is another possible count, very similar to the previous, but minus the ABCDE correction of the second wave.
We May get a higher high to complete this wave 3, then the safest entry would be to play the wave 4.
Exercising extreme patience is advised.
If EOS breaks upwards, this is one of the possible patterns in play.
The link between BTC has decoupled slightly, partly based on the recent news, but also as the dominance is lowering for BTC.
If BTC does get complete its ABC correction and EOS follows suit due to FUD, then this pattern is likely out of the books.
If we did indeed finish a 5 wave cycle (unlike the scenario that will follow this post), then we are looking for the end of the second wave for suitable entrance.
- Blue lines = 3rd wave targets if this is the bottom of the second wave.
- Green lines = Alternative buy zones
- Red Lines = Possible resistance if we are in an uptrend from this pivot