USDT: Analysis Shows That Correction is Nearly Complete, If Not Already
SUMMARY
A breakout is very likely and the purple Elliott Waves project an impulse rise to 123213 Satoshi for wave 5. This would be a 11280% profit potential. Will this happen overnight? No, it'll happen in a five wave impulse. Price is also starting to gap and the direction is upwards. Usually, this signals a sizable rise potential in buying interests. Let's see how the price pans out in the next few days. When drawing chart patterns, I do take liberty in cutting out or ignoring some price wicks as you can see, the tallest wick is not considered for the pattern or Elliott Wave counting.
Still, there is a scenario for a one more slightly lower low if price wanted closer proximity to the Apex.
The September correction showed an upward pointing wedge as shown in below chart. This type of wedge has bearish implications and usually the gudiance is that price can fall below the starting point.
The blue arrow shows how any good Technical Analyst might call it a bounce awaiting a lower low. But even at this early stage of the bounce, not enough sellers were populated so that price had to go up.
Legal Disclaimer: This post is for general information only. No information, forward looking statements, or estimations presented herein represent any final determination on investment performance. While the information presented in this post has been researched and is thought to be reasonable and accurate, I cannot and do not guarantee any rate of return or investment timeline based on the information presented herein.
