Short

Bullish Elliot Wave Forming

Updated

Looks like an Elliott Wave is forming. The Fib didn't look right using that initial highpoint. But moving down to the next high placed everything where it made sense. I'm pretty sure the price was supposed to drop, but a whale entered the market and shook some things up. Sad. I was hoping to rebuy at 6800.

If wave point #2 should somehow fall below #1, the wave is invalidated.
If wave point #3 fails to rise above #1, the wave is invalidated.
If wave point #4 falls below #1, the wave is invalidated.

Note

I had to make some readjustments to the wave, but the wave is still valid and currently moving up wave #3.
My current chart has wave #3 topping out at 7234 around 2100 Pacific Time.

I have wave #4 bottoming at 7175. It's just going to bounce off the wave #1 resistance line. I estimate this as 0200 Pacific Time.

Then Wave #5 will top out at 7274 by late tomorrow morning (1100-ish). The price will then descend again as an ABC correction wave.

I'll likely take profits on wave #3, and then wait for the bottom of the correction wave to rebuy.

Moon launch should be happening soon, but that's my forecast until tomorrow afternoon. Weekly chart indicators are very bearish at the moment so that price will likely come back down again. Low of 6400 possible in the next week.

Danzo_

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