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RE: Monero, final upward wave ahead. Elliott Wave Analysis of XMR-BTC market.
I beg to differ. I believe that XMR has now entered a trend channel and that it's averaging out before another upward break out, after which it will continue to soar. It's fundamentals are solid and the word on the darknet forums is that a majority of users are switching over to the new anon coin. Only time will tell but I do believe Monero has a long way to go before falling.
Hi senseiteekay,
this is my prefered scenario, but this can be wrong, of course.
If we would see a correction back to the level of Blue 4 after the Blue 5 was reached, the probability would be high that the upward trend continous.
It's also possible that wave Blue 3 and Blue 4 are nested wave 1 and 2 (of minor degree), and "the mother of all wave 3's" is in front of us.
We don't know it, but time will tell.
BR,
twinner