Wings DAO (WINGSBTC) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Wings DAO began a wave one advance on May 22. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 7, and the red wave two (blue sub-waves a-b-c) correction ended on July 31. If this wave count is correct, Wings DAO should be heading next towards the June 7 peak in the wave three.
(Chart courtesy of Tradingview.com)
My alternative wave count shows that Wings DAO is already in the wave five due to the relatively short trading history so please consider taking some profits if we do reach the June 7 peak.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Wings DAO will takeout the June 7 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Wings DAO will drop below the May 22 low".
If you think Wings DAO is in a range, upvote this post and upvote the comment "Wings DAO will stay in a trading range between the May 22 low and the June 7 peak until October 8".
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