ADA has extended in it's wave 5 of primary 1. This over lapping grind higher appears to be an ending diagonal for completion of wave 1. If my count is correct our retrace should come into the area of origination which is .27. However, I prefer to wait to see how price behaves over the course of this upcoming weekend.
Best to all,
Chris
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So many tokens appear to be completing wave 5 of 1 or lower high to start wave 2. TOTAL crypto market cap is also running an ED. Everything appears to be on the verge of profit taking. Stop losses have been moved up and once exchanges see how close they are to that sell level, they will push the price to begin the wave 2 decline.
maikisch
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@peterbhc, I’ve been referencing this in relation to the markets and all risk assets. But the truth is wave 2’s can be shallow so all we can do is wait and see. But I agree….. everything I track looks to be topping
peterbhc
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@maikisch, I am getting similar vibes with BTCUSD and levels of resistance and support from 2020 bull run 🤔