Populous (PPT) Analysis: Don't be Decived by the Notion of a Quick Correction
SUMMARY
After completing a five wave rise, Populous (PPT) undertook the requisite process of a retracement which has been in progress since early February. Thus far, the % retracement has been deep and exceeded the 0.78 Fibonacci zone and likely heading towards the 0.88 area. While the symmetrical triangle will likely provide a breakout, I believe it's also important to remember that Altcoins rarely complete a quick or timely corrections. In fact, price already looks to be traversing sideways. Now that most of the decline is complete, the time consumption phase is kicking in and that means sideways meandering horizontally without direction.
This chart shows a projected pathway of how PPT can take a couple more months while only putting in incremental lows. The wxyxz (red) triple complex waves show that the "Basin Phase" has well started and the blue abc subwaves could mark the rest of the correction. Is this the time to abandone PPT? Not at all! It's time to prepare the ladder cast.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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
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Tutorial on the use of Fibonacci & Elliott Waves
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Why SBD down?
Cause @HAejin is scamming it all duhhhhhhhhhhhhhhhhhh
Hahaha
Funny hey? Super guru @haejin predicted it to hit triple digits in a shitpost he made last week. Don't hold your breath.
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good :)