In my recent post, I have drawn a bearish outlook for Bitcoin. Hence, it's fair to re-evaulate my EW count on some previous posts. It should be noted that I'm by no means an expert on EW analysis, so any feedback would be much appreciated.
For Kave I made some slight EW adjustments and some dubious speculation on where this altcoin may bottom. In my view, Kava might still be correcting on a larger degree (intermediate): double three (WXY) or even a tripple three (WXYXZ). Wave X already made a 50% retracement of Wave W and it looks like we are heading down for Wave Y. Whether Wave Y will present itself as a double three, a zigzag, a flat, or a triangle is to be determined.
If Wave Y = 100% of Wave W, this correspond with a 50% retracement in Wave 2 (Primary) and could lead to a price target of $1.48.
-If you agree with this, like and share.
Cheers.
For Kave I made some slight EW adjustments and some dubious speculation on where this altcoin may bottom. In my view, Kava might still be correcting on a larger degree (intermediate): double three (WXY) or even a tripple three (WXYXZ). Wave X already made a 50% retracement of Wave W and it looks like we are heading down for Wave Y. Whether Wave Y will present itself as a double three, a zigzag, a flat, or a triangle is to be determined.
If Wave Y = 100% of Wave W, this correspond with a 50% retracement in Wave 2 (Primary) and could lead to a price target of $1.48.
-If you agree with this, like and share.
Cheers.
