Update to 1T Target
The target mentioned in a prior post from May 2020 (see related idea) remains unchanged.
I get it, economy dead, dollar steaming ahead, stocks going to zero, banks bust, war, food shortages... Why would altcoins do well here? I don't have the answers unfortunately. However, looking at this chart in isolation shows potential for one last push higher towards the initial target of 1T.
There are alternatives sure, this is just one option I'll be looking out for and confidence increases with the break of 165B, a higher high on the lower timeframe.
The two corrections (2, 4) fit quite well, wave 2 being a sharp, deep expanded flat and wave 4 a zig-zag retracing 38% of the third.
Note: this doesn't have to be correct, and there is potential for a lot of downside. This idea shouldn't be considered as a good reason to buy altcoins. Risk is high.
Good luck out there!
I get it, economy dead, dollar steaming ahead, stocks going to zero, banks bust, war, food shortages... Why would altcoins do well here? I don't have the answers unfortunately. However, looking at this chart in isolation shows potential for one last push higher towards the initial target of 1T.
There are alternatives sure, this is just one option I'll be looking out for and confidence increases with the break of 165B, a higher high on the lower timeframe.
The two corrections (2, 4) fit quite well, wave 2 being a sharp, deep expanded flat and wave 4 a zig-zag retracing 38% of the third.
Note: this doesn't have to be correct, and there is potential for a lot of downside. This idea shouldn't be considered as a good reason to buy altcoins. Risk is high.
Good luck out there!
