ALGO Update Lower Time Frame
This is just a zoomed in version of my previous chart to show the lower time frame analysis that I am tracking at the moment. Wave counts are always difficult I think when price is moving so impulsively. However, the most obvious move in all of it is this recent downside flush, which has created a perfect ABC correction. These almost always mark the end of a wave 1 and this is why I have concluded we are in wave 2 of 3 of this impulsive move. My upside target for the end of this run up (which I think is a wave 3 of 5) is somewhere between $5 and $10, with some bumps along the way. My wave count beyond existing price action is purely speculative at present and will likely change...
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I am expecting price to be range bound now until the beginning of January (about a month) as the asset is re-accumulated before the next big move up
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