Elliot Wave - ICON BTC Deep Retracement, are the Bulls ready?
After hitting bottom of 2146 stat in March that signaled the completion of the Primary Wave 2 (white). If Elliot wave count holds we should be on our way heading up for Primary Wave 3. Within Primary Wave 3 we will have many smaller Elliot Waves.
I believe that we are currently in a smaller sub wave (yellow) and just hit the bottom of wave 4 after hitting pretty much the maximum retracement possible @ 0.887 (yellow box). If we continue to fall below 2555 stat, this wave count will be invalid and will need to evaluate the wave count again.
However, if are able to hold above 2803 stat we could see a run up to wave 3 highs and beyond. The safe play would be to buy on confirmation of wave 5 breakout. We can confirm wave 5 break out after it has moved beyond the wave 3 peak (green box).
Note: This is just for entertainment, do not use for trading purposes and understand there are high risks trading crypto currencies.
I believe that we are currently in a smaller sub wave (yellow) and just hit the bottom of wave 4 after hitting pretty much the maximum retracement possible @ 0.887 (yellow box). If we continue to fall below 2555 stat, this wave count will be invalid and will need to evaluate the wave count again.
However, if are able to hold above 2803 stat we could see a run up to wave 3 highs and beyond. The safe play would be to buy on confirmation of wave 5 breakout. We can confirm wave 5 break out after it has moved beyond the wave 3 peak (green box).
Note: This is just for entertainment, do not use for trading purposes and understand there are high risks trading crypto currencies.