Illuvium diluting in the Metaverse hype

In the Metaverse startup bubble, we are witnessing the fall of several assets.

Here I will analyze Illuvium.

The project may be well-reasoned and so on, but the price doesn't lie.

We have a book setup here.
Bullish waves from 1 to 5.
Then we have the formation of a shoulder-head-shoulder figure.
If we project the head height to the reverse (down) side, we have the likely target of the bearish wave 5.

It can even explode up and reverse (anything is possible), but I believe this is not the time to bet on altcoins.