SUMMARY
SALT was propelled to a five wave completiong by the Cu & Handle pattern and the subsequent expanded ABC flat correction led to a near 0.94 Fibonacci retracement. Such deep retracements are a personality trait effect for Altcoins. The reason for this has been explained and detailed in previous posts. Every correction has an end and the key is to identify the indicators that signal the correction bottom which is a process and not an event.
Further detailed Elliott Wave labels show that the C wave of the Flat is subdivided into wxyxz and the final (Z) itself is a complex sideways action with incremental lower lows. The terminal pattern is also showing to be a downward looking wedge and price being so proximal to the apex; a breakout is due. When? I don't know precisely...nobody does; but probability says soon.
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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