KIN is Bottoming
SUMMARY
KIN is place an impulse with the fifth wave extended. When wave 5 becomes longer than wave 3 or the longest of the actionary waves, it's a sign of an incoming deep retracement. Depending on the degree of extension, the retracement can extend to prior wave 2. The chart below shows an abc ZigZag (5,3,5) correction that could be complete. The subwaves of red A has been labeled into fives.
A closeup of the correction shows there is probable event of five subwaves of the final C wave being complete. IF this is the case, then an impulse set of upward waves need to appear. The overall pattern is also likel to resemble a Cup & Handle pattern. However, further upside price action needs to be evidenced.
The alternate count shows that one more lower low coud still be needed. This is mostly given how Bitcoin might act as even KIN will take its lead.
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.
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Plain and simple...as Bitcoin goes, so will the alt-coins.
First xD
Why Cryptocurrency Investing is a Terrible Idea WARNING: ONLY READ IF 18+ AND ABLE TO HANDLE THE TRUTH... GRAPHIC LANGUAGE USED https://steemit.com/bitcoin/@investingtips/why-cryptocurrency-investing-is-a-terrible-idea-warning-18-only-graphic-language-used
Haejin is king of crypto ta. Elliot waves. Thanks for the
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There's nothing wrong in following math.
Nice. I was looking at this the other day. Might have to actually grab some soon.
I am glad that you share such a nice analysis.
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really good post