ATH Elliotwave idea - The end of the cicle
My Elliott Wave Count and its Implications for the End of this Cycle
This is my bullish scenario where the highs were not breached and the last 5th wave was not truncated. It's important to acknowledge that this 5th wave, the 'Trump pump,' was significantly extended and impulsive compared to wave 1, the beginning of the cycle. Typically, the 5th wave exhibits characteristics similar to the 1st wave. However, in this cycle, the 5th wave more closely resembles the impulsive and extended nature of wave 3.
In this scenario, we can anticipate that this 5th wave, the last major wave, might have been extended, as illustrated in this idea. However, it's crucial to remember that a significant downtrend could ensue if we lose the 85k level. A retracement from that level might necessitate a re-evaluation of the Elliott Wave count.
This is my bullish scenario where the highs were not breached and the last 5th wave was not truncated. It's important to acknowledge that this 5th wave, the 'Trump pump,' was significantly extended and impulsive compared to wave 1, the beginning of the cycle. Typically, the 5th wave exhibits characteristics similar to the 1st wave. However, in this cycle, the 5th wave more closely resembles the impulsive and extended nature of wave 3.
In this scenario, we can anticipate that this 5th wave, the last major wave, might have been extended, as illustrated in this idea. However, it's crucial to remember that a significant downtrend could ensue if we lose the 85k level. A retracement from that level might necessitate a re-evaluation of the Elliott Wave count.
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