Based on Elliot waves we're in the fourth motive wave. We can project that the ending point would be around 6 dollars or possibly down to 3-4 dollars (6 is where the .764 fib is and 3-4 is around the .886). Using the VPVR(volume profile indicator) those areas are also large areas of support. In the book we're told a good projection for the fourth wave is usually making a parallel channel between points 1 and 3, and then down to the 2nd.
This channel isn't concrete and is known to be wrong at time but they're a very good reference point a majority of the time, and I will adjust if necessary.
One thing that intrigues me is the idea that the third wave might actually not be done and we might have just started the 5th inner/primary wave of the 3rd motive wave -- I haven't gone in to count the smaller waves.
One reason why I'm saying this is possible is more just because the MFI and stoch RSI are in over sold regions, but since momentum isn't following I wouldn't entertain that possibility at all just yet.
Looking forward to big announcements coming from this project!
Short term possibly Short and long term LONG
This channel isn't concrete and is known to be wrong at time but they're a very good reference point a majority of the time, and I will adjust if necessary.
One thing that intrigues me is the idea that the third wave might actually not be done and we might have just started the 5th inner/primary wave of the 3rd motive wave -- I haven't gone in to count the smaller waves.
One reason why I'm saying this is possible is more just because the MFI and stoch RSI are in over sold regions, but since momentum isn't following I wouldn't entertain that possibility at all just yet.
Looking forward to big announcements coming from this project!
Short term possibly Short and long term LONG
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