Brief Analysis of Sand/USDT Fib/ Elliot wave theoryHello All. Heres my thoughts on Sand, based on my beliefs we are in a ABC correction on the ENTIRE market, (this is not backed by facts just my belief) love to hear your thoghts... this is the time we all need to be very careful based on my experience in 2017/18 run I have seen the markets manipulated heavily.... DO NOT trust the news they are your enemy. Take everything with a grain of salt, it is a proven fact market makers use news to create liquidity. MEanng good news they looking to dump, bad news looking to buy... this isn't a "rule" some news is totally organic and factual just keep that in mind. as who the source is whats the context etc. Point of me saying that is this time gives me flash backs from late 2017. I thought it was funny that when BTC broke ATH earlier this year was never mentioned in mainstream media... it wasnt really yalked about till it cracked 50k over double its jigh in 2018 when you couldnt go an hour without someone talking about BTC - Warren buffet has a famous quote something along the lines of "when your barber is giving you stock advice.... GET OUT!"
Now here we are crypto seems to be hitting the mainstream again,,, conveniently as it tanks lol... "coincedence" idk and frankly doesn't matter all we can do is try and stay a step ahead. Make a clear plan and stick to it... being "reactionary" now and you will be run ragged.
With all that said I think there are a few ways to read this chart. After looking at multiple time frames im going with my gut that we are im wave 4 about to enter wave 5, however I believe we will be going down farther in the next few hrs to days, being published at 10:30 MTS
Based on the fib and elliot wave theory, we completed wave three now still in wave 4 (macro) but if you drop to a 30 min and disect the 1-5 on the downtrend (of wave 4). You will see wave three of the down was a very short wave 1.27 fib, then look at support levels and the top of wave 1 (macro) I really believe we are headed to at least the 2.0 fib level roughly 3.29*lines up perfectly with heavy support as well as the top of wave 1,,, potentially even farther i dont think 2.61( 2.72 level) is out of reach...
You could argue we played out 1-5 on the larger trend and now a ABC correction but I do not believe so...
THIS would match up with my theory that big money has been slowly buying but hasnt bought their full bag, once they have I think we due for a humongous pump... once we bottom out at 4... 12-18?!?! ,maybe even higher very hard to say...
This is not financial advice, I am not a registered trader, I highly encourage you to do your own research this is merely for education purposes/ discussion.
Take EVERYTHING with a grain of salt and make your own decisions. Constantly re-evaluate but make clear precise decisions and stick to them... when its clear you are wrong which even the best trader is, cut the chord and move on!
Love to hear your thoughts... Good luck everyone!
