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 less likely, but still possible.
So let's stay prepared just in case it happens so we don't freak out and sell at a loss :)
Shout out to ben for the help, check out his great EW analysis on steemit:
steemit.com/cryptocu...ency/@benkalashnikov
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 less likely, but still possible.
So let's stay prepared just in case it happens so we don't freak out and sell at a loss :)
Shout out to ben for the help, check out his great EW analysis on steemit:
steemit.com/cryptocu...ency/@benkalashnikov
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edit: I changed the secondary ABC correction pathway to orange instead of green, apologies for any confusion.
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Looks like we have clearly taken the ABC correction route.
We also have some extra consolidation while BTC works out wtf it's doing.
We should see some sort of impulse soon and it looks like we've truly found at least 75% of the bottom here. I would not expect to see lower than 6000 sats from here unless BTC vomit to $4500 range, as this coin follows BTC like a mirror.
Some stability with BTC and this coin can get back to resuming it's growth waves.
Will keep you updated.
We also have some extra consolidation while BTC works out wtf it's doing.
We should see some sort of impulse soon and it looks like we've truly found at least 75% of the bottom here. I would not expect to see lower than 6000 sats from here unless BTC vomit to $4500 range, as this coin follows BTC like a mirror.
Some stability with BTC and this coin can get back to resuming it's growth waves.
Will keep you updated.