This ABC correction has been difficult to plot, let alone analyze.
There has been a lot of call for a Wave C (also Wave 2 of higher degree) to retrace to the 0.50 fib of the last series, which is normal for Wave 2. I saw 0.77 as a pretty big line in the sand so disagreed and instead expected a Flat ABC Correction wave. It appears that were going to end up with goofy Wave C as $XRP has broken above the trendline from Wave 5 to Wave B. Because of the irregularity of it all, I hesitate to call the end of Wave C until we make a new high above Wave 5 as this in theory could be a XYZ situation (3-3-3-3-3-3) building.
As always, follow me here and on Twitter @ExsiliumI for updated analysis, relevant news and near real-time PA updates.
There has been a lot of call for a Wave C (also Wave 2 of higher degree) to retrace to the 0.50 fib of the last series, which is normal for Wave 2. I saw 0.77 as a pretty big line in the sand so disagreed and instead expected a Flat ABC Correction wave. It appears that were going to end up with goofy Wave C as $XRP has broken above the trendline from Wave 5 to Wave B. Because of the irregularity of it all, I hesitate to call the end of Wave C until we make a new high above Wave 5 as this in theory could be a XYZ situation (3-3-3-3-3-3) building.
As always, follow me here and on Twitter @ExsiliumI for updated analysis, relevant news and near real-time PA updates.
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