ReddCoin (RDD/BTC) has more than one way the price waves can be counted. The below shows my primary count and it is mostly corrective. The red abc means that C is like to be lower than red wave A which had already retraced deeply. The subsequent B wave was viewed by many as the new rise towards all time new highs; however red C has turned out to generate a lower low. The subwaves of C wave are shown in white and it likely tage the prior wave 4 level. Bear in mind that the direction and pattern could morph and any analyst needs to be at alert for that. Should the bottom be as near as suspected, the first sign of a trend reversal would be an impulse of five waves in the upward direction.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf