So it appears we have started sub-subwave 3 of subwave 5 of wave 5. We may still be on sub-subwave 2 though.
I believe we are on sub-subwave 3 for these reasons:
1. The sharp drop in the direction of the motive wave (down) implies the start of an impulse wave
2. Sub-subwave 2 is sufficiently long compared to other sub-subwaves in other subwaves
We will know shortly. If we are still on sub-subwave 2, the price should now creep up higher than $6800 to complete the wave. But if the wave drops and keeps going down then it is confirmed on sub-subwave 3.
If we're on sub-subwave 3, then the length of this wave is important:
1. Same length as sub-subwave 1: that implies sub-subwave 5 would be the longest
2. shorter than sub-subwave 1: that means sub-subwave 5 will be the shorter than sub-subwave 3 (best case scenario)
3. longer than sub-subwave 1: that gives sub-subwave 5 freedom to be any length (worst case scenario - unpredictable)
I believe we are on sub-subwave 3 for these reasons:
1. The sharp drop in the direction of the motive wave (down) implies the start of an impulse wave
2. Sub-subwave 2 is sufficiently long compared to other sub-subwaves in other subwaves
We will know shortly. If we are still on sub-subwave 2, the price should now creep up higher than $6800 to complete the wave. But if the wave drops and keeps going down then it is confirmed on sub-subwave 3.
If we're on sub-subwave 3, then the length of this wave is important:
1. Same length as sub-subwave 1: that implies sub-subwave 5 would be the longest
2. shorter than sub-subwave 1: that means sub-subwave 5 will be the shorter than sub-subwave 3 (best case scenario)
3. longer than sub-subwave 1: that gives sub-subwave 5 freedom to be any length (worst case scenario - unpredictable)
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.