Quite something to talk about in our second “after fork” update.
Well, actually it will be more as the author will have to split the updates.
Here we will talk a bit about ETC, the next part (will be published today too) we will update the Elliott Waves count for ETH and the final part will be about the future (more philosophical)
The reason we want to start with ETC is easy. There is a quite a madness building there. And for us, Elliott Waves partitioners this is really a rare example how the markets works.
Just look at these two pictures, taken few minutes ago:
Just read it.. ETH is over, ETC #1, “wow”, “Hurra ETC #1”
This is the sentiment which comes together with the top building.
And here we go with Elliott Waves count for ETCBTC:It’s very short-term chart, as we don’t have so much data yet. Still, this is pretty amazing Elliott Waves picture. Wave 3 is exactly 2,61 of wave 1. Wave 5 goes exponential and you saw the sentiment on the picture above.
The author believes what we will see the next is a drop to at least 0.0014 here.
Ok, that was the first part. We needed to update it fast enough as the market volatility is very high now.
Enjoy the markets as long as you are on the right side. For this take enough effort to distance yourself from the crowd. It’s an essential skill if you want to survive in this wild-west market conditions we have lately.
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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