Short
ETPBTC Elliot wave 5 completed
We have possibly completed elliot wave 5.
Wave 2 retraced 61.8% of Wave 1. Wave 3 was the strongest wave with the highest volume and initially hit resistance at the 2.608 fib extension with only a brief breakout above. Wave 4 retraced 50% of wave 3 and did not cross into wave 1.
We have now hit resistance at the 1.618 fib extension of Wave 3. Wave 5 has been on less volume than wave 3 and there is a clear RSI price divergence.
Fundamentally I think it is a coin with a lot of potential however I belief now is the time for a healthy pullback and then we may be ready for some nice gains after the upcoming BTC fork.
Wave 2 retraced 61.8% of Wave 1. Wave 3 was the strongest wave with the highest volume and initially hit resistance at the 2.608 fib extension with only a brief breakout above. Wave 4 retraced 50% of wave 3 and did not cross into wave 1.
We have now hit resistance at the 1.618 fib extension of Wave 3. Wave 5 has been on less volume than wave 3 and there is a clear RSI price divergence.
Fundamentally I think it is a coin with a lot of potential however I belief now is the time for a healthy pullback and then we may be ready for some nice gains after the upcoming BTC fork.
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