If first and third waves are roughly same size, you might have to wait to identify a fifth wave extension. And even though I say this in hindsight, it's a valuable lesson to be learned.
MarkCanna
⋅
@ChrisOh, Yea, I blew my initial entry. But here's what was in my mind as it was running.
- Ripple pumped to 1/5th of the entire crypto market cap at the peak.
- It blew by Ethereum like it was standing still.
- Their coin structure (100,000,000,000 fully diluted) is designed to fool casual investors into believing "the coin is cheap"
I averaged my position up, and am still short. I'm confident in a significant pullback, especially now.
toast
⋅
@ChrisOh, is the additional gain the extension, and now the 5th wave is complete?
ChrisOh
⋅
@toast, Following ripple's correctional patterns, I think the 5th wave may be complete, and may even already be corrected.
MarkCanna
⋅
@toast, That's what I believe, yes. Any attempt to retest the high has been weak, on lower volume.