After one of the mentioned in the last post levels was breached, as promised we are publishing an update.
Unfortunately the bears (who finally spoiled the full moon party) did it right before the writer of this post was planning to go sleep.
Please, bear (cmon, how many times will I have to use this word?) with us and let us publish an extended update tomorrow.
For now the basic Elliott Waves count goes like this:
If the decline stops somewhere around the current level and will bounce back to 0.019-0.01950 level, it will further support this count. Namely the 5 waves decline from 0.02270.
If the decline, however, will continue below 0.01650, well, we have some ideas about it too.
Tomorrow we will publish more.
For now the moon party is postponed, let’s see how long are bears here to stay.
The Elliott Wave Principle describes the behaviour of the financial markets. This Principle is build on the mass psychology swings from pessimism to optimism and back in a natural sequence. When these swings happen, the specific Elliott wave patterns in price movements are created and become visible. Each pattern has implications regarding the position of the market within its overall progression, past, present and future.
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