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...
Centra seems to rally when BTC is dipping so as BTC starts approaching the 8/9k range we should see a small run up towards the resistance lines.
Probably won't break through but should be a nice gain from current price of 14,800 sats.
Target here is the ascending purple resistance line meeting the green triangle descending arm which is circled about 21,476 sats....
Something i noticed. Complete newbie here so don't take as financial advice. Just a pattern that in my short time learning about this stuff, results in a bullish reversal.
Please provide any thoughts or insights on my accuracy.
Any comments welcome.
Absolute newbie here, but even a newbie can see that this was a nice, solid consolidation. Buckle up, we are getting ready to kabooooommmm.
As I said, I'm very new to this, so don't use this as any kind of financial advice.
Please offer corrections/constructive criticism on placements of lines. Am I generally in right area?