The SALT of Cryptosphere!!
SALT is correcting in the pathway of an a,b,c set of waves. This this case a zig zag. Now, just because price goes to the c might not equate to a bottom. It would actually be a bit too fast because Altcoins have an imprinted genetic syndrome called the "Hurry Up & Wait" where the impulse waves are placed very quickly and the reactionary waves hit the brakes to a very, very slow process. The initital wave C could be at around $4.32; however, be aware of a double Zig Zag (WXY) pattern which can help to eat more time into the correction.
The below shows the Forest from the trees. In this light, the correction seems minimal. Since the waves are of higher degree of trend (not necessarily time!); it allows a bigger picture perspective. The target is $67.32.
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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