Here's my refined Elliott Wave count for ARKUSDT, offering a potential roadmap for future price action.
Big Wave A: Completed Bullish Impulse
I've identified a clear five-wave impulse (1-2-3-4-5) that appears to have concluded a significant upward move. The sub-wave analysis shows:
Wave 2: A healthy 61.8% Fibonacci retracement of Wave 1.
Wave 3: A strong extension, reaching 261.8% of Wave 1.
Wave 4: A standard 23.6% Fibonacci retracement of Wave 3.
Wave 5: A less common truncation, failing to surpass the peak of Wave 3.
Overall, this structure suggests a completed motive wave.
Big Wave B: Complex Double Three Correction (W-X-Y)
Following the impulse, the price action has unfolded into a lengthy and deep corrective pattern, which I interpret as a Double Three (W-X-Y).
Wave W: This initial corrective wave shows a deep 'b' wave retracement (78.6%, with significant time extension) and a very deep 'c' wave retracement (300%), which suggests a complex internal structure that warrants further inspection (potentially not a standard corrective three-wave).
Wave X: The connecting wave appears to be a Zigzag, with a deep 'b' wave (78.6% retracement) and an extended 'c' wave (141.4% extension). The overall Wave X retraced 38.2% of the preceding move.
Wave Y: This final corrective wave of the Double Three is a complex structure itself (potentially another Double/Triple Three). Its sub-waves (w, x, y) show various Fibonacci relationships, with the overall Wave Y retracing 78.6% of the move from the start of Wave W to the end of Wave X.
Overall Correction: Big Wave B retraced a significant 78.6% of Big Wave A and took considerably longer to unfold, indicating a strong counter-trend move.
Current Outlook & Potential Big Wave C:
Since the low in late 2024, we've seen a strong bullish move. This suggests that the complex Big Wave B correction has likely completed, and we are now potentially in the early stages of a new bullish impulsive wave – Big Wave C.
Bias: Medium-Term Bullish
Big Wave A: Completed Bullish Impulse
I've identified a clear five-wave impulse (1-2-3-4-5) that appears to have concluded a significant upward move. The sub-wave analysis shows:
Wave 2: A healthy 61.8% Fibonacci retracement of Wave 1.
Wave 3: A strong extension, reaching 261.8% of Wave 1.
Wave 4: A standard 23.6% Fibonacci retracement of Wave 3.
Wave 5: A less common truncation, failing to surpass the peak of Wave 3.
Overall, this structure suggests a completed motive wave.
Big Wave B: Complex Double Three Correction (W-X-Y)
Following the impulse, the price action has unfolded into a lengthy and deep corrective pattern, which I interpret as a Double Three (W-X-Y).
Wave W: This initial corrective wave shows a deep 'b' wave retracement (78.6%, with significant time extension) and a very deep 'c' wave retracement (300%), which suggests a complex internal structure that warrants further inspection (potentially not a standard corrective three-wave).
Wave X: The connecting wave appears to be a Zigzag, with a deep 'b' wave (78.6% retracement) and an extended 'c' wave (141.4% extension). The overall Wave X retraced 38.2% of the preceding move.
Wave Y: This final corrective wave of the Double Three is a complex structure itself (potentially another Double/Triple Three). Its sub-waves (w, x, y) show various Fibonacci relationships, with the overall Wave Y retracing 78.6% of the move from the start of Wave W to the end of Wave X.
Overall Correction: Big Wave B retraced a significant 78.6% of Big Wave A and took considerably longer to unfold, indicating a strong counter-trend move.
Current Outlook & Potential Big Wave C:
Since the low in late 2024, we've seen a strong bullish move. This suggests that the complex Big Wave B correction has likely completed, and we are now potentially in the early stages of a new bullish impulsive wave – Big Wave C.
Bias: Medium-Term Bullish
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.