Seeing this chart makes me confident we're seeing Elliott wave alternation rule playing out. If one correction is flat, the other is a zigzag and the other way around. Also impulses after a flat corrections are often (but not a necessity) more agressive. In this case it was. Don't expect a degree of same impulse in the 5th wave.
1. To be noted sideways movements happen in a form of flat corrections, triangles etc. and last longer than zigzag sharp corrections. In our case, second wave is a clear running flat correction and lasted longer than a sharp.
2. The other thing is that sharp corrections are deeper than flats. So even if we take this case from COINEX and all the wicks, the flat is still a bit shallower to sharp one.
Hopefully this panic is the bottom. If it is, the most rational thing would be to chop and slowly grind up. We also tested previously untested support. All Elliott wave rules are spot on. We could go lower, but not much more.
Also watch out for the $4,4 price are. If we smash it, it's game on.
1. To be noted sideways movements happen in a form of flat corrections, triangles etc. and last longer than zigzag sharp corrections. In our case, second wave is a clear running flat correction and lasted longer than a sharp.
2. The other thing is that sharp corrections are deeper than flats. So even if we take this case from COINEX and all the wicks, the flat is still a bit shallower to sharp one.
Hopefully this panic is the bottom. If it is, the most rational thing would be to chop and slowly grind up. We also tested previously untested support. All Elliott wave rules are spot on. We could go lower, but not much more.
Also watch out for the $4,4 price are. If we smash it, it's game on.
註釋
I'm a buyer here. Just waiting for the 1W BTC close.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。