Is this recent gain a first wave diagonal or just another bull trap? If we are looking at the bullish scenario we could be looking at highs in the low 200s again very soon, assuming BTC doesn't massively tank.
This Count may not be correct, but a failing 5th wave explains the continued bearish trend in the market, and leads me to believe we could still see Lows of 8200-7200. I am not saying this is the correct count, and I hope it is not, but I think too many people are discounting it.
Neo has made several of these bounces in the past month, and this recent retracement happened rather quickly. We are now trading between the .618 and .786 fib levels, and at least a wick should hit the .786 soon. The triangle being formed is still a week or two from closing, and expect a bounce back to above .01355 :)
Shout out to SkrillaKing on youtube, helped me see this pattern and I got in on the last cycle making a quick 14.8% , and I am doing this chart to post in his discord. Neo has gone through 5 cycles recently where it dropped below .011 Satoshi, and bounced to over .013. Although the triangle that is being formed is closing, it looks like it has room for 1 or 2...
The Elliot wave up trends are the least likely part of this graph to hold, and time frame should not be taken literally. These are the retracement zones I will be purchasing in.
The VeChain THOR Rebrand is happening in about 5 hours! The Hype train will continue and we will see VEN tease 65000 satoshi before the Rebrand!