APPC Elliot Wave analysis (Wave 3 imminent?)
Updated
Hi guys, not sure if this is wave 3 or 5, but have been following APPC for a while. Looks like it's had a pretty extended wave 2 while BTC has been making up its mind. It even had a textbook head and shoulders reversal that was part of the ABC Elliot wave correction- very ugly for those that bought up there.
Anyway, we are about to enter wave 3. I'm new to Elliot waves but I'm pretty confident about this because we are also at the bottom of the triangle as you can see, and there is really no other place for this coin to go except upwards. Some are worried about it breaking support but that's very unlikely because this coin is probably on the higher end of 'undervalued' right now.
Looking at the whitepaper and roadmap this is a very professional project by a company that is already successful in their field (Mobile device applications). They also seem to have a working use case already existing which is great considering this is mostly a speculators market.
Anyway, I think *hope* my waves are somewhat on point. I haven't worked out how to properly measure targets for wave highs/lows yet so don't use these wave targets- PLEASE don't buy and sell based off these number markings because they will certainly be off.
If anyone has any suggestions/criticism/feedback about the general placement of my waves please do chime in because this is my first dabble with elliot waves.
My only concern is that this may be wave 5 we are about to enter, not wave 3 (if my initial wave markings are wrong, which they very well could be). Either way we are going up. If someone can confirm/correct me on if this is wave 3 or 5 that would be great :) (please explain what I did wrong too if I did make a mistake). Thanks!
Don't take as financial advice!
Anyway, we are about to enter wave 3. I'm new to Elliot waves but I'm pretty confident about this because we are also at the bottom of the triangle as you can see, and there is really no other place for this coin to go except upwards. Some are worried about it breaking support but that's very unlikely because this coin is probably on the higher end of 'undervalued' right now.
Looking at the whitepaper and roadmap this is a very professional project by a company that is already successful in their field (Mobile device applications). They also seem to have a working use case already existing which is great considering this is mostly a speculators market.
Anyway, I think *hope* my waves are somewhat on point. I haven't worked out how to properly measure targets for wave highs/lows yet so don't use these wave targets- PLEASE don't buy and sell based off these number markings because they will certainly be off.
If anyone has any suggestions/criticism/feedback about the general placement of my waves please do chime in because this is my first dabble with elliot waves.
My only concern is that this may be wave 5 we are about to enter, not wave 3 (if my initial wave markings are wrong, which they very well could be). Either way we are going up. If someone can confirm/correct me on if this is wave 3 or 5 that would be great :) (please explain what I did wrong too if I did make a mistake). Thanks!
Don't take as financial advice!
Trade active
So this is the other pathway, looking at it right now, I think perhaps this was the correct pathway. Hopefully someone with more crypto experience chimes in :)that would be a MONSTER wave 5 if this is the correct pathway.
Note
please ignore my last update.Upon further study, the bottom of wave 4 CANNOT be lower than the top of wave 1. So this is completely incorrect. Please igore, I will update as I learn more over the next week :)
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