What a troll-y correction. lol.
We fell to 2505, and the maximum allowable correction under EWave with the count that the recent rise was a wave 3 was to 2500, because wave 4 cannot cross into wave 1 territory. (Though if you dont couldnt the margin spike to 2500 on sept 5 you could get away with saying the real wave 1 high was 2354 I guess. That might be more accurate, since 2354 was actually the end of wave 1. Margin in low liquidity environments can cause spikes that warp things).
The wave 3 move went from 1735 to 3170, then retraced nearly 50%.
I guess there is room for a further drop if you consider 2354 the real top of wave 1, and if it went for a full 50% retracement it would go to 2452. But this scenario is less likely than the scenario where we do not go below 2500.
The next move targets 3500-4000 range. (Though it is possible that wave 5 extends, as is common in commodities and cryptos, in which case it can go higher). After that will be another correction (maybe the release time 'sell the news' correction, but it will be followed by a much larger rise in later on once the real wave III starts.
Anyway, thats how I expect it to play out. From here there is only one decent sell point, and that is on a rise to somewhere between 3500-5000, if you sell at the right point then you should be able to catch another 500-700 satoshi drop like we have been seeing.
Did you follow on your own teachings?
I manage to add a heavy load (for me) in the low 25xxs, averaging ~2517 sat, in the last dump last night.
PS
More interestingly, lacking the "scientific knowledge" that this is supposed to be the max allowable retraction, I felt the
need to defend the 2500 with whatever arms I got.
Topic: Bitshares price discussion (Read 900777 times)
