Zilliqa April 22 TA: 1200 SATS WOW! (Target Wave 5: 1600 sats)
So, we previously had 2 bullish scenarios for Zilliqa and with this huge price action, I truly believe that this is the correct Elliot Wave count because:
Wave 3 is often:
1) The longest
2) Has the highest volume
3) Has the steepest slopes.
Wave 3 hit slightly higher than 1.618 fib and naturally we target slightly higher than 2.618 which is around 1600 sats region.
A correction is greatly needed for the next push for Wave 5.
Since we corrected between 382 and 0.5 fib for Wave 2, according to Principles of Alternation,
Wave 4 should correct more and thus we target between 0.5 and 618 fib for Wave 4 which is between 800 to 878 sats.
Wave 3 is often:
1) The longest
2) Has the highest volume
3) Has the steepest slopes.
Wave 3 hit slightly higher than 1.618 fib and naturally we target slightly higher than 2.618 which is around 1600 sats region.
A correction is greatly needed for the next push for Wave 5.
Since we corrected between 382 and 0.5 fib for Wave 2, according to Principles of Alternation,
Wave 4 should correct more and thus we target between 0.5 and 618 fib for Wave 4 which is between 800 to 878 sats.
Comment:
No idea why i drew Wave 4 so far away..
Comment:
Forgot to add:
Rules of Alternation also states that, if Wave 2 is a sideways correction, Wave 4 should be a steeper zig zag ABC correction.
Rules of Alternation also states that, if Wave 2 is a sideways correction, Wave 4 should be a steeper zig zag ABC correction.
