ETPBTC Elliot wave 5 completed
We have possibly completed elliot wave 5.
Wave 2 retraced 61.8% of Wave 1. Wave 3 was the strongest wave with the highest volume and initially hit resistance at the 2.608 fib extension with only a brief breakout above. Wave 4 retraced 50% of wave 3 and did not cross into wave 1.
We have now hit resistance at the 1.618 fib extension of Wave 3. Wave 5 has been on less volume than wave 3 and there is a clear RSI price divergence.
Fundamentally I think it is a coin with a lot of potential however I belief now is the time for a healthy pullback and then we may be ready for some nice gains after the upcoming BTC fork.
Wave 2 retraced 61.8% of Wave 1. Wave 3 was the strongest wave with the highest volume and initially hit resistance at the 2.608 fib extension with only a brief breakout above. Wave 4 retraced 50% of wave 3 and did not cross into wave 1.
We have now hit resistance at the 1.618 fib extension of Wave 3. Wave 5 has been on less volume than wave 3 and there is a clear RSI price divergence.
Fundamentally I think it is a coin with a lot of potential however I belief now is the time for a healthy pullback and then we may be ready for some nice gains after the upcoming BTC fork.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.