Testing/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
Chart is on the 4h timeframe cause the coin is still relatively new.
Chart is on the 4h timeframe cause the coin is still relatively new.
Trade active:
Since ILV has two huge wicks going up, i'm not sure if we could use that as a part of the wave count. However, since the RSI also spiked with it, I think it's good.
Either we're working on a new impulse wave up to complete the 5th wave up or we're still going a bit further down for the 4th wave. I have an updated chart below showing a steeper retracement and a different wave count. Below chart shows a completed 5th wave/1st impulse wave on a larger super elliot wave cycle
Either we're working on a new impulse wave up to complete the 5th wave up or we're still going a bit further down for the 4th wave. I have an updated chart below showing a steeper retracement and a different wave count. Below chart shows a completed 5th wave/1st impulse wave on a larger super elliot wave cycle