WAVESBTC - Descending triangle off Wave 4 - about to begin Wave5
Waves is about to start a new Wave!
Or at least that's how it looks to me. It had a super strong push yesterday, and started correcting. I dug into it's history of behaviour, and checked out the EW count on it's latest push. To my surprise, it didn't actually look like it had completed a 5 wave structure, which means it's giant jump was a wave 3 (makes sense) and there should still be one final push to complete this primary cycle. It actually looks like yesterday was a Wave 3 (minute) of a wave 3 (primary) of a wave 3 (cycle). Definitely confirms with EW theory for it's massive move. But with that said, wave 5 should still be significant as it's part of a Wave 3 / 3.
If my count is correct, we should hit 0.0009 before the Wave 3-3-5 is complete, at which point it'll probably fall back into the 0.00075 region (give or take 10% - 3-1 dropped by about 0.618, so this landing should be softer)
If my count is correct, this correction shouldn't drop below 0.0007281.
If the descending triangle is correct, we're probably within 12 hours of wave 3-3-5. Limited time 20% opportunity!
And if my count is incorrect - well I'm sorry.
Evidence for that will include
1) Confirmed fall below 0.0007281 (I'm setting mine a lower in case of whale dumps)
Really that's about it.
So the Risk / Reward is pretty good.
Potential 20% upside
Risk is roughly 4% at current prices.
It's possible this could get truncated. It IS a 5th wave. So I plan on using a trailing stop as the price jumps.
I'll probably only get a 14-16% return by doing that, but I don't want to get caught by the 4th wave and lose all my gains. Better safe than sorry.
Or at least that's how it looks to me. It had a super strong push yesterday, and started correcting. I dug into it's history of behaviour, and checked out the EW count on it's latest push. To my surprise, it didn't actually look like it had completed a 5 wave structure, which means it's giant jump was a wave 3 (makes sense) and there should still be one final push to complete this primary cycle. It actually looks like yesterday was a Wave 3 (minute) of a wave 3 (primary) of a wave 3 (cycle). Definitely confirms with EW theory for it's massive move. But with that said, wave 5 should still be significant as it's part of a Wave 3 / 3.
If my count is correct, we should hit 0.0009 before the Wave 3-3-5 is complete, at which point it'll probably fall back into the 0.00075 region (give or take 10% - 3-1 dropped by about 0.618, so this landing should be softer)
If my count is correct, this correction shouldn't drop below 0.0007281.
If the descending triangle is correct, we're probably within 12 hours of wave 3-3-5. Limited time 20% opportunity!
And if my count is incorrect - well I'm sorry.
Evidence for that will include
1) Confirmed fall below 0.0007281 (I'm setting mine a lower in case of whale dumps)
Really that's about it.
So the Risk / Reward is pretty good.
Potential 20% upside
Risk is roughly 4% at current prices.
It's possible this could get truncated. It IS a 5th wave. So I plan on using a trailing stop as the price jumps.
I'll probably only get a 14-16% return by doing that, but I don't want to get caught by the 4th wave and lose all my gains. Better safe than sorry.