Over the last year, I have been introduced to Elliott Wave Theory and have learned to use it in trading cryptos. More recently, I have looked into the more specific "Fibonacci Pinball" method described by Avi Gilburt's group. I have never subscribed to any of their services, but they have an Education section of their website, which includes an introduction to their Fibonacci Pinball method as well as a more detailed presentation on the topic.
I have decided to practice their method and use this blog to document my analysis for my own purposes.
I am not a financial advisor. Do not consider this to be financial advice. I am posting it here for my own practice and future review only.
Today I am looking at DGB. From a long term perspective it bottomed in March after the January peak. Since then DGB has placed higher lows and we can apply Fibonacci Pinball to project an ultimate target of about 1637 satoshi for wave v.
Zooming in we find fairly good agreement with targets along the way. I would not be surprised to see one more low to complete wave (2), before turning up again. In this case, the target for circled wave 5 is 1117 satoshi which is lower than the target for the same wave from the longer term perspective. It would not be surprising to see circled wave 5 extend toward the higher target around 1330 satoshi.
Thanks for reading. Please keep in mind I am projecting price only, not timeframe.
