Maker: Elliott Waves Theory ($6,111 & $9,407)I think what is most beautiful about this method is its simplicity.
Let's review Maker in terms of Elliott Waves.
We have two main patterns.
The impulse and the correction.
An impulse develops mainly in five waves. (1,2,3,4,5)
The correction in three waves. (ABC)
An impulse will lead to a correction.
A correction will lead to an impulse.
To use this system, we just need to spot where the market is at in the present time.
There was a clear bullish impulse between 2023 and 2024.
This impulse was followed by a correction.
The current correction can be over or might not be over.
For example, the C wave 3-Feb. can continue lower and bottom at a later date. This can only be known after the event.
What we know for sure is that MKRUSDT is now within a correction and after this correction a new bullish impulse will develop. An impulse produces a minimum of five waves.
We can expect rising prices based on this simple method.
We have targets between $6,111 (wave 3) and $9,407 (wave 5).
Thank you for reading.
Namaste.
