This is how I see it, DYOR.
I noticed that the crashing pattern on ICP was eerily similar to other strong moves Some examples are GRT release on Coinbase and the recent BTC impulse up into the Wycoff. The pattern doesn't exactly follow Elliot rules, but is Elliot-ish as well. Basically 5 wave move...triangle forms near the tip of wave 4...triangle breaks in the continuation direction...rounded bottom creates false signal of reversal but breaks to continue...finishes with 5 strong waves...trend reverses.
GRT example
BTC example
I noticed that the crashing pattern on ICP was eerily similar to other strong moves Some examples are GRT release on Coinbase and the recent BTC impulse up into the Wycoff. The pattern doesn't exactly follow Elliot rules, but is Elliot-ish as well. Basically 5 wave move...triangle forms near the tip of wave 4...triangle breaks in the continuation direction...rounded bottom creates false signal of reversal but breaks to continue...finishes with 5 strong waves...trend reverses.
GRT example
BTC example
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.