Foreign Well what a train ride hit to the Moon Well not exactly to the Moon yet Um yesterday obviously we we lost a lot Yeah it came down crashing Um I cannot Well you know I cannot um really Confidently say anymore that this year Is a way for yesterday it could have Still been away four here at 88 cents Yeah if you've watched my last video you Will remember that I talked about the Possibility of it being here still a way For but it just it just came down too Low this this was not always not likely Anymore for me it is more likely that This was actually just a truncated wave 5 here so called truncated wave five Um meaning that the wave 5 did not make It above the wave 3. this is a Possibility this does not go against the Elite wave rules it is rare though but It is acceptable if the following price Action goes very strongly into the other Direction and we have that here so at The moment my view is that the wave one Was completed here it was though an Unlikely option that you would really Normally not really look at as primary Expectation until you see it really play Out and you have to take that view Um so the strong downside move in my Opinion Union justifies that view and Then we marked here the Wave 2 low at 76
Cents And we are now moving up in the third Wave already However the third wave Um Does consist of sub waves so at well the Best I have to offer here is the idea That this is still a wave one off the Third wave yeah this would be the Bullish interpretation we also take a Look at the bearish one in a minute Um even though there isn't really Anything bearish on this chart until we Drop below 47 cents okay Um and The view is now if we move up here in Wave one now then we consider that this Year was a wave one in itself of wave One this year was a wave two of wave one This year was a wave three of wave one It would now really be good to get a Fifth wave of wave one that ideally Would go sort of in the region 135 maybe Even a little bit higher Um this move up here was not Um really strong enough to count it as a Full impulse because we've reached only The 1.236 flip extension so I can count This still as one two three four and Then the fifth wave would be a diagonal But we really need to start moving up Now all right Um so and then it could reach sort of The region 135 why 135 because if we
Take a look and take the length of this Bit here add it to the low of this last One then we're looking here at the Region ideally around 138 the 1.618 Extension Maybe okay I just see that now the One-to-one ratio would only reach 126. The reason for that is because this wave Up was quite short so maybe I'm going to Change the target here to 125. For this wave one Would I still buy now I wouldn't buy now What because first of all there is a Risk that these are only three waves up And we don't get the fifth wave and then We're going to break down because this Is just an ABC a corrective wave up and We're going to break down maybe tomorrow So I wouldn't buy now Um What I would do is if we get five waves I would buy the retracement in a wave Two yeah I already wanted to buy the Retracement here but honestly this all Happened too fast I couldn't I did catch Some ethereum at the low I caught some Bitcoin at the low Um I didn't catch some medic so what I'm Going to do I'm going to wait for the Fifth wave up of wave one which ideally Will reach as we just discussed the 125 Level and then I will buy the Wave 2 Retracement I can't really give you a Target for the Wave 2 retracement yet
Because we haven't topped in wave one so I can't really calculate it but I can Make an assumption here let's say we get To 125 126 the target would be sort of In the region between one dollar and one And 87 cents For the wave tool if we go higher though Than 125 it will move up a little bit That Target but yeah this is sort of Where we are a pretty bullish action Today but not yet confirmed because we Only have three waves so what it needs To do is five waves up and then it needs To hold the next retracement what would Be the bearish scenario so the bearish Scenario would be that Um let me just zoom out a little bit The well not really bearish scenario Because as I discussed there isn't Really anything bearish on this chart Until we drop below 47 cents but the Let's say short-term bearish case would Be that the Wave 2 was never finished Here in September the Wave 2 is still Ongoing and that we had however a Massive Um overshooting wave B so basically from The top here the wave 1 which occurred On the 13th of August or 14th we came Down in an a wave moved up in a massive Overshooting wave B And we are now coming down in the wave C And in or even w x y would maybe even be More suitable wxy and then we're now
Coming down in the Y wave which consists Of a b c in itself so next we would come Down in the C wave this would become Very likely if and I'm going to show you That now if we um don't get five waves Up yeah and come down now and if we Don't hold the 78.6 retracement of the Current move up so if we now come down Drop below 85 cents Then or even drop out of the um Ascending trend line here I think then We're going to come down in a deeper Wave C should find support however above 47 cents now and will then have a chance To move up in the third wave these are The two possibilities so either going up Now or coming down once more holding Support above 47 cents and moving up Then So one is just Um let's say short-term bearish but Generally bullish the other one is Generally Bullish right now Um and there won't be really a bearish Scenario until we drop below 47 cents Which I can't see at the moment but Never say never especially not in the Current environment okay and that's my Update about medic hope you like the Update if you did like the update please Hit the like button leave a comment and Subscribe and if you really like the Content then please check out the
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