If my EW analysis is correct, then we are heading to around 4400. This gives us 78.6% retracement of wave 1, and makes a = c for the zigzag. The channel line is also matching this scenario,
This is by no means any advice for buy/sell.
Please do leave feedback on your thoughts.
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I was also thinking that wave a doesn't necessarily have to be equal wave c. Other possible reversal points might be 7200 (61.8%) and 5900 (78.6%). If it's 61.8%, then we might already be close to the end of the correction. (I must admit that it doesn't seem like it at this point).
@retiringsoon1, Thanks for the link. What implications do you think this hearing will/might have?
darkandblue
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@mi_khan, any indication that SEC will be regulating the market will hit all crypto market and there will be big sell offs. but i doubt that will happen
mi_khan
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@retiringsoon1, ok, that's the last thing we need now. Hoping for a fast recovery at this moment as I am a HODLer :)