First of all, this is the log scale.. it is what I've learnt from Mikael. The log scale fit perfectly for crypto. You may like to try draw it for Bitcoin history to see something fascinating.
Ok... I believe the first elliot wave has ended due to Wave 5 retraced more than 0.618fib. So.. it seems like this anti-bearish-market rise needs some correction before going further. Or it may already have at 0.236fib (34KSat) of the whole Elliot Waves ?
Due to market manipulation, I personally don't think it will go further down than 29KSat.. something between 29KSat to 35KSat should be the good buyzone.
So sit tight, and enjoy the rise... but if we miss... Long live HODLER! Next target at 69KSat
This is not investment advise, more likely my personal journey..
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We should really go down from here
At smaller time frame, the pulsewent above the ceiling of wedges line, but in bigger time frame, it fits in the channel. Unlikely that the break up will happen at the top of the wedges. so I still expect ETP to go down.
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Sorry, shorthers!! The whole market just got green and ETP made to 52ksat!!! i will have to review the swing entry and strategy.
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Less likely but crazy prediction 90KSat by the end of August..
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Pretty tight entry for new comer. 0.0004738 - 0.000484
Let's see how it turns out.
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First time bounced from the buying zone...
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Moving in support area. (forming falling wedges in small time frame)
If this support is broken, it may go down to 0.618Fib (41KSat)
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Let see if this beat found the bottom around the trend line or not.?
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Support trend line from the first rise. 25 Aug, follow closely that this beast will break up or down.
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Fall below trend line now very creepy volume. Seem like heading to the Fib around 38KSat
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Redraw the Elliot Wave by extending the wave 3 to previous peak 5, this could be the new wave 5