Hi everyone,
Here is what I think is going on with KAVAUSDT Perpetual Futures.
We are in an ABC zig-zag correction:
-Wave-A was a standard 5-wave downmove
-Wave-B was a contracting triangle that is just completing now
-Wave-C will be another 5-wave downmove.
Due to the channeling and that is also is very close to the 61.8% fib retracement of the highest timeframe upmove, my most likely guess is that Wave-C will take the same amount of time as Waves A and B together, and will cover the same price ground as Wave-A did (on log scale). This would give us something like the green case, ending at around $0.85 before an attempt to end the correction will be made, either succeeding or creating an X-Wave.
The other two options shown there, are Wave-C completing at AB time, but:
-Wave C only covers 61.8% of the price action (on log scale) as Wave-A.
-Wave C covers 161.8% of the price action (on log scale) as Wave-A.
Good luck, not trading advice, just writing my ideas down.
Here is what I think is going on with KAVAUSDT Perpetual Futures.
We are in an ABC zig-zag correction:
-Wave-A was a standard 5-wave downmove
-Wave-B was a contracting triangle that is just completing now
-Wave-C will be another 5-wave downmove.
Due to the channeling and that is also is very close to the 61.8% fib retracement of the highest timeframe upmove, my most likely guess is that Wave-C will take the same amount of time as Waves A and B together, and will cover the same price ground as Wave-A did (on log scale). This would give us something like the green case, ending at around $0.85 before an attempt to end the correction will be made, either succeeding or creating an X-Wave.
The other two options shown there, are Wave-C completing at AB time, but:
-Wave C only covers 61.8% of the price action (on log scale) as Wave-A.
-Wave C covers 161.8% of the price action (on log scale) as Wave-A.
Good luck, not trading advice, just writing my ideas down.