The nearest scenario is still a major wave two correction (C) but not a zigzag because b from the zigzag cannot retrace higher than 61.8% or is still in WXYXZ like the article yesterday morning for the correction of wave 100372-110500.
The rise to 108.9 is only wave X trying to manipulate like an impulsive wave 3. Now the wave count is from 100372 because if valid this is the continuation of the correction from the rise of 100372 to 110400. Structure wxyxz.
W 110400 - down to 102664
X 102664 - 108.9
Y 108.9 - 103,300??
Or is this still Y down? We need to find out later.
As long as 100372 is not broken, it is still valid to go to wave 3.
Let me teach you to read the correction structure so you won't be confused and only know abc zigzag.
Look at the real example on the 15-minute chart in the correction from 105819.
Forming a complex wxyxz correction.
And the pattern is the same as the current correction from 110500.
Hopefully we can see the real upward impulse soon. Too many shakeouts already.
#BombieBinanceTGE
The rise to 108.9 is only wave X trying to manipulate like an impulsive wave 3. Now the wave count is from 100372 because if valid this is the continuation of the correction from the rise of 100372 to 110400. Structure wxyxz.
W 110400 - down to 102664
X 102664 - 108.9
Y 108.9 - 103,300??
Or is this still Y down? We need to find out later.
As long as 100372 is not broken, it is still valid to go to wave 3.
Let me teach you to read the correction structure so you won't be confused and only know abc zigzag.
Look at the real example on the 15-minute chart in the correction from 105819.
Forming a complex wxyxz correction.
And the pattern is the same as the current correction from 110500.
Hopefully we can see the real upward impulse soon. Too many shakeouts already.
#BombieBinanceTGE
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
AVAX
18.21
+0.33%
ALT
0.03751
+7.94%