DECRED (DCR) Has Placed Five Impulse Waves so a DEEP Three Wave Correction to around $7.70 is Expected
SUMMARY
DECRED placed five solid impulse waves. Eliott Waves states that after every five impulse waves, a three wave retracement is required. This retraced occurs as an a,b,c (red) three wave and corrects often to the level of prior wave iv (white). That means a deep correction is expected and has started.
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Nice heads up!
Hope you don't mind if I post here... let me know.
https://steemit.com/decred/@daverex/decred-down-then-boom
I have been researching Decred, and find your analysis very telling. Decred has been described as Bitcoin 3.0 by some. Since it is a hybrid proof of stake and proof of work, it is a potentially very interesting currency. CryptoBud did a pretty good analysis of Decred in the video below, however, the analysis presented here is based on the Fibonacci Patterns / Elliot Waves versus the business case. I like the wave / herding math analysis as a more robust predictor. Overall, I will continue to research this coin. Thank you for the excellent analysis.
Thank you for the comment. I, alas, won't view the analysis you shared from CryptoBud. The only reason is so that I won't risk having my analysis in my head influenced by another's.
I'm human and have long ago decided to rarely review another's analysis of the same coin or equity. This way, I can better follow MY analysis. This way, I won't be swayed and can live and die by my own "sword". :-)
nice post.
Thanks, very informative post,
Hope Support me, follow and up votes @Josna