Coinbase Update: wave 1 of c complete?

As said in my update earlier, the BTC ETF getting approval from the SEC helped propel Coinbase up to hit a more normal b wave target and then got rejected. To the untrained eye one would assume this is just volatile price action and nothing more. Which, yes, it is volatile price action, but it happened for a reason.

Remember how I always say structure is the most important thing when trying to place a count? Well, a waves can either be a 3-wave or 5-wave count. Look at the a wave I have labeled, it ended up carving a 5-wave structure followed by what is ALWAYS a 3-wave count for b. Then we made a mini-5-wave structure that I am calling 1 of c. This "normally" would be followed by a 3-wave structure for wave 2 of c, and then another mini-5-wave down should follow for 3 of c. C waves, however, can also be either a 3-wave or 5-wave structure. That being said, there is a possibility this is a mini-a-wave with a b wave to follow. This makes it very difficult to differentiate between a 3-wave vs. 5-wave structure for c. The hidden clues are usually found in a few different places with MACD being the primary place to distinguish the two.

This all being said, I expect us to move higher in a 3-wave move very soon, if not tomorrow, rather it being for wave 2 of c or wave b. Either way, I don't want us to raise higher than $163.78. That would at minimum invalidate a 5-wave c and make it less likely, though not impossible, for it to be a 3-wave c. B waves can go above a wave tops, but it is much rarer.

I'm not saying we won't drop a tad bit more before raising for our next retrace higher, but if we do it shouldn't be much. Hopefully this all makes sense to y'all. After March 1st, I plan on going into deep detail such as this and explaining things much more thoroughly often. I will also be answering any and all questions at that time. If you have questions for me now, I will answer most of them I'm sure, but you will get un-filtered answers from me after that date of March 1st. Good luck y'all!!

Komen:

Today, we dropped a little as I said was very possible before rising in a 3-wave pattern as I said we would. Yes, the retrace was very quick and shallow, but it WAS in fact a 3-wave move as predicted. We then dropped hard in what is either wave 3 of c, or the start of c. These both are usually strong moves as this has been. Today went basically how I predicted. The retrace was small, but as I have said repeatedly...watch the structure.