SUMMARY
Cryptos have the "Hurry up and Wait" syndrome. This term is used in the army. For cryptos, it means they don't waste their time when putting in a five wave motive, in fact they hurry so much to put all five waves in that the fifth wave is often extended! Then, since Elliott Waves states that every five wave move must be followed by a three wave retracement, cryptos sure do take their time! Take a look at the white roman numeral waves i,ii,iii,iv,v. These were completed in less than a month. The resulting and requisite retracement was in the form of a triangle and it took four times longer than the motive.
Now, take a look at the below close up of the recent break from the triangle. It impulsed as labeled in blue roman numerals. Observe again how extended the fifth wave is...very extended! And so, now the correction could take some time if it adheres to the "hurry up and wait" syndrome. Also, as I've written and videod often, when wave five is extended, the resulting correction is very deep. The correction could be done but maybe not as it could morph into another one of the 36 combination possibilities. Regardless, once the correction is complete, the trend should resume up in an impulse as shown by the white roman numerals.
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Legal Mumbo Jumbo: 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.**
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