SUMMARY
SALT/BTC followed BTC to the correction and has thus far put in a deep retrace. Elliott Waves is showing the blue abc and the subwaves of the c wave are shown by the white waves. Counting subwaves allows closest approximation of the "geo" position of the wave progression. The purple waves are marking the subwaves for wave 5 of C. The ability to count the subwaves provides greater confidence that the higher degree of trend count is correct. IF this count is correct, then either SALT/BTC has put in a bottom or will at any moment and a sizable bounce could be expected. Could the bottom be in? Not likely; the correction is too quick. This current low is likely to bounce and then take a sideways direction.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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