The 4th wave is pretty much touching the 1st wave. Remember, the can't overlap.
Also the 3rd wave should never be the shortest. Your count has 1 the longest and 5 almost as same as 1. For cryptos, the general guideline is that the fifth tends to be the longest (doesn't have to be) so typically, 1 is the shortest.
For future reference:
3 absolute must rules for Elliott waves
#1 - Wave 2 cannot retrace more than 100% of Wave 1
#2 - Wave 3 cannot be the shortest of the 3 impulse waves
#3 - Wave 4 cannot overlap Wave 1
Yes I was looking for the lowest possible wave 4 count. thanks for pointing out the 3rd wave being shortest, should have drawn wave 5 shorter than I did. nice summary!
Oh boy, I'd love to. Keep in mind I am A TOTAL N00B AND THIS IS NOT SOUND ADVICE but maybe I'm close.
I'd say from my VERY LIMITED viewpoint that you should expect a dip to as low as about $7 or $6
The 4th wave is pretty much touching the 1st wave. Remember, the can't overlap.
Also the 3rd wave should never be the shortest. Your count has 1 the longest and 5 almost as same as 1. For cryptos, the general guideline is that the fifth tends to be the longest (doesn't have to be) so typically, 1 is the shortest.
For future reference:
3 absolute must rules for Elliott waves
#1 - Wave 2 cannot retrace more than 100% of Wave 1
#2 - Wave 3 cannot be the shortest of the 3 impulse waves
#3 - Wave 4 cannot overlap Wave 1
Yes I was looking for the lowest possible wave 4 count. thanks for pointing out the 3rd wave being shortest, should have drawn wave 5 shorter than I did. nice summary!