Volume on wave 3 was the signal for me. Those are just beautiful waves 1 and 3. If wave 5 completes here, the retracement will tell us if we've actually hit the bottom of the bear market and are now accumulating for the next bull run, or if we are to test new lows.
I'd favour the bullish scenario right now to be honest. During the larger wave 4 (which could last 2...
Classic wave 4 triangle in the making.
Volume of wave 3 was awesome.
Good thing with this play is that all you have to do is set your stop loss at the bottom of the C wave of the triangle (roughly 4900$ or slightly lower to be safe).
Risking $150ish for a $650-700$ gain.
If the stop loss is triggered, we know that this was a correction, not a 5 wave impulse, so...
This shitcoin just got pumped.
Nice bounce coming off the 618.
Keep an eye on the 0.618 on this altcoin pumps, it provides incredible support for algos and bots that take advantage of the B bounce of the ABC crash after each big pump leg. Take profit at the 0.382 fib and then let some ride to the 0.236
Personally I don't think we've seen the bottom yet. But in the short term, it's time to try and squeeze some more retail money into this ponzi while the media's paying attention. Perfect time since we've hit 3200 and plenty of normies thinking this was the 'bottom' of the bear market. It could be, but I think we'll at least test the 3200/3k area again. Probably...
-I will post close up of current movement and what I think is currently an ABC below
-RSI on daily chart just broke support but this triangle and the recent bullwick still support this ABCDE triangle as a B wave of an ABC before completing wave 5 down.
-We should see a 0.61 1:1 or 1.618 extension of Wave A to make Wave C which would potentially top out at $1.40....
Don't really know much about this project but the chart looks good.
-OBV (volume) increasing steadily.
-Stoch RSI on 4 hour has bottomed and is about to move up.
-Almost at climax of bullish pennant.
-Target is roughly length of pennant flag pole around 210-220 sats.
Not financial advice.
Ok so it took a while to work out, but once we hit the new all time low, our 'fears' were confirmed, and what we thought was wave 1, was invalidated. Turns out it was a wave 4 correction of this ENORMOUS, huuuuge, ABC correction's 'C' leg.
You can see the 5 subwaves (light blue) of the C leg's 5th and final wave which we are completing now, before we start the...
Ok, so the previous count I posted was incorrect.I was concerned that wave 4 had entered wave 1 territory (this is not allowed), but it's apparently okay as long as it's only the wick of the candle, not the body of the candle. Using the line plot instead of the candle plot confirms that wave 4 did no enter wave 1 territory.
So this is the count as I see it now....
I've seen lots of charts on this but I think most are incorrect.
People aren't including the ICO moon as a legitimate part of the count but it is a legitimate part of the count (I believe anyway).
I think we're just about to finish wave 4 and wave 5 is up next.
Remember that wave 4 cannot enter wave 1's airspace.
Not financial advice, just my opinion.
Should break out of this downtrend soon. Looks like a bull wick on the 2 and 4 hour charts.
Very good buy at this price.
Previous high of 32K satoshis which is 450-500% of current price.
Concept is solid, team looks solid and project is by an established company with over 200 million users (apparently).
Do some research on the coin and make your own...
So I have asked for some advice from a friendly fellow Elliot Waver, with much more experience than me.
He's found a similar pathway to me as the primary count (in pink), but also included this potential alternate count of the ABC correction phase (which is in green), which could extend to lower lows before we breakout.
This extended ABC correction scenario is...
Hi guys, not sure if this is wave 3 or 5, but have been following APPC for a while. Looks like it's had a pretty extended wave 2 while BTC has been making up its mind. It even had a textbook head and shoulders reversal that was part of the ABC Elliot wave correction- very ugly for those that bought up there.
Anyway, we are about to enter wave 3. I'm new to Elliot...