In a previous post I projected wave 2 would be a 61.8% retrace of wave 1, where wave 2 ended on May 14th. This chart shows a trendline drawn from the top of wave 1 to the bottom of wave 2 where wave 2 ends on the golden ratio retrace on May 14th. RDD wave 2 as you can see has been hugging the trendline and using it as support and resistance.
The chart projects fine grain details for the rest of wave 2, specifically for wave 5 of C from the ABC zig zag pattern wave 2 has been carving out.
The main take away from the chart that I have is that the 62% retrace ending on May 14th still seems like a highly probably scenario; In case you happened to have missed the bottom of wave 3 of C, I don't think RDD has found the bottom of wave 2 yet. Until I see the RDD price go well beyond the projected wave 4 of C, then the current shown count is still my primary count.
Somewhat for my own reference, here is my math work in working out the details of this chart:
.00257329 * 1.272 = .003274
.00257329 * 1.414 = .003639
.00982783 - .003639 = .0062
.00982783 - .003274 = .00655
wave 1 of c = .00127667
.00986773 - .006696 = .00317173 = wave 3 of c
.5 of of 3 = .001585865 + .006715 = .0083 = top of wave 4
.0083 - .0064 = .0019 ~ 1.5 of 1
.0083 - .0062 = .0021 ~ 1.62 of 1
.0083 - .00655 = .00175 ~ 1.38 of 1
The chart projects fine grain details for the rest of wave 2, specifically for wave 5 of C from the ABC zig zag pattern wave 2 has been carving out.
The main take away from the chart that I have is that the 62% retrace ending on May 14th still seems like a highly probably scenario; In case you happened to have missed the bottom of wave 3 of C, I don't think RDD has found the bottom of wave 2 yet. Until I see the RDD price go well beyond the projected wave 4 of C, then the current shown count is still my primary count.
Somewhat for my own reference, here is my math work in working out the details of this chart:
.00257329 * 1.272 = .003274
.00257329 * 1.414 = .003639
.00982783 - .003639 = .0062
.00982783 - .003274 = .00655
wave 1 of c = .00127667
.00986773 - .006696 = .00317173 = wave 3 of c
.5 of of 3 = .001585865 + .006715 = .0083 = top of wave 4
.0083 - .0064 = .0019 ~ 1.5 of 1
.0083 - .0062 = .0021 ~ 1.62 of 1
.0083 - .00655 = .00175 ~ 1.38 of 1
I could see RDD/BTC moving very sideways through the btc correction.
What does this mean for RDD/USD? We would have RDD/USD at the top of 4 of C near .0083 USD on 05/16, the tag it’s 61.8% at .0064 USD just as BTC does at 7800 on 05/21.
If this alternate count happens we would most likely see a very vertical wave 3 ending on 06/08 at .055 USD.