3h trading above the cloud, Stoch RSI looks good, Heikin Ashi has more than 3 green candles and it already touched 100% from original entry 18 days ago This may still be a good entry after it breaks the daily cloud (blue area) and we may rally up to the 3d cloud
Current Elliot Wave set can become the leg of a larger move.
We also can head to a new all time high.
This idea updates
Komen
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This may go to 0.5 or 0.618 Elliot.
Targets updated according to last Elliot wave.
Komen
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This had a 50% retracementand is currently forming a descending triangle. Daily Stoch RSI also seems to reset.
I am changing the wave count as this wave is going sideways and it seems we are forming a triangle.
@Tsan, from what I recall, the 3rd wave can not be the shortest wave but there is no rule as it being the longest.
Please correct me if I'm wrong.
Other opinions will also be appreciated.
Tsan
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@WealthMurphy, From what I see and I didn't measure, your wave 1 seams more or less equal then wave 3.
Also "Wave 3: Wave three is usually the largest and most powerful wave in a trend (although some research suggests that in commodity markets, wave five is the largest)", you go against the statistic of wave 3 being the largest... Still your Elliot Wave can still be correct, for that I apologize... but not favoring the statistics.
WealthMurphy
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@Tsan, I've also noticed on crypto that last wave is most impulsive and has the most growth but to be honest, I'd wish that wave 3 touches 0.0003 :) or even 0.0007 and wave 5 a little more.
We'll see what'll happen...
P.S. I've also draw the wave set according to support and resistance areas from last cycle.
Tsan
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@WealthMurphy, Yes, I agree with that. Wave 3 might not ended yet!
Tsan
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@Tsan, ps. or in your main prediction wave 3 might be one or two levels up. (it is just ideas, not certain predictions or suggestions)
WealthMurphy
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@Tsan, yup, is just an idea. I think I have more things to learn too, I don't know it all and I don't predict all waves from before. At the moment is just an idea but will update it as the market unfolds.
After wave 3 it will be easier to predict wave 5 or at least some targets on wave 5.
Anyway, for me (and I think for many) the gains are more important and I may change my analysis as the market unfolds.
Fundamentals and news also have an impact on crypto but I don't really follow them.
For example the old XRP analysis had higher gains than initially predicted but I've updated the target areas.
It also went higher than last target but it still had produced 150% profit which is a good profit in my opinion.