This may still be a good entry after it breaks the daily cloud (blue area)
and we may rally up to the 3d cloud
Current set can become the leg of a larger move.
We also can head to a new all time high.
This idea updates
Targets updated according to last Elliot wave.
Daily Stoch RSI also seems to reset.
I am changing the wave count as this wave is going sideways and it seems we are forming a triangle.
Please correct me if I'm wrong.
Other opinions will also be appreciated.
Also "Wave 3: Wave three is usually the largest and most powerful wave in a trend (although some research suggests that in commodity markets, wave five is the largest)", you go against the statistic of wave 3 being the largest... Still your Elliot Wave can still be correct, for that I apologize... but not favoring the statistics.
We'll see what'll happen...
P.S. I've also draw the wave set according to support and resistance areas from last cycle.
After wave 3 it will be easier to predict wave 5 or at least some targets on wave 5.
Anyway, for me (and I think for many) the gains are more important and I may change my analysis as the market unfolds.
Fundamentals and news also have an impact on crypto but I don't really follow them.
For example the old XRP analysis had higher gains than initially predicted but I've updated the target areas.
It also went higher than last target but it still had produced 150% profit which is a good profit in my opinion.