✴️ Syscoin | EW Bullish Impulse (5-Waves Up)
Here we have a potential wave count for the developing bullish impulse based on Elliot Wave theory on the Syscoin (SYSUSDT) chart.
Two things are quite clear for us:
1) The drop from Dec. 2021 to June 2023 as a major move down.
2) The consolidation phase as a the extension of the correction.
After a correction, a new move develops.
Another things that is perfectly clear, is the first wave (Wave 1) in January 2023. We can see 6 green weeks.
Wave 2 is also quite clear but this will be confirmed only if we get wave 3 and that's the projection.
Elliot Wave Theory Conclusion
✔️ Since we have a corrective pattern after a major bearish move followed by a bullish breakout, we know that we are in a new move which in turn must be either an inverted correction (upwards zig-zag or flat) or a new bullish impulse.
Namaste.
Two things are quite clear for us:
1) The drop from Dec. 2021 to June 2023 as a major move down.
2) The consolidation phase as a the extension of the correction.
After a correction, a new move develops.
Another things that is perfectly clear, is the first wave (Wave 1) in January 2023. We can see 6 green weeks.
Wave 2 is also quite clear but this will be confirmed only if we get wave 3 and that's the projection.
Elliot Wave Theory Conclusion
✔️ Since we have a corrective pattern after a major bearish move followed by a bullish breakout, we know that we are in a new move which in turn must be either an inverted correction (upwards zig-zag or flat) or a new bullish impulse.
Namaste.
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Live!)
lamatrades.com (Since 2017)
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
lamatrades.com (Since 2017)
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
Related publications
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.