PIVX: Could a Correctional Bottom be Near?
The whole chart of PIVX looks very overlapping and thus a bit shaggy. I've included the impulse five waves. Elliott Waves states that after five waves, there is a requisite correction. This correction is often in the form of an ABC waves and in this case it's an Expanded Flat where wave B exceeds the origin of A. Expanded flats are more common in Cryptos than in Equities.
The close up using microwaves shows that the expanded flat has yet a few more waves to go. Since most likely waves A and B are complete, the C's five subwaves have 3 still ongoing with 4 and 5 on deck. What does this mean? IF this count is correct, a prospective bottom could be near.
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