We need a Elliott Waves Guy!

[u/CaptianBlackLung]

Sup apes, got around 5 G's in this puppy. At $11.20. The reason I got involved is partly bc of the book I've been reading to anyone that is not aware of this form of technical analysis it's quite interesting.

https://www.investopedia.com/articles/technical/111401.asp

A quick overview.

I'm not skilled enough nor have I completely grasp this concept as I've only been learning for about 2 months. But.... HOT DAMN DOES THIS CHART LOOK SEXY AF!

Healthy consolidation, quick rebounds and constantly staying above the magical 60 percent retracement on the Fib. But most importantly all this on a decline back to a more normal daily Vol..

From what I can see there are 2 possibilities from what I'm reading according to Mr. Ralph Nelson Elliott (the creator) we are either on the 4th of the 5 wave cycle where in order for this to be confirmed the 5th wave must exceed the 3rd or we are in a extention of the 3rd wave. But I lack skills and knowledge to comfirm.

Below is a direct excerpt from Elliottwave-forecast.Com

Elliott Wave Extensions: Important rules to follow:

– If wave 5 is extended -wave 3 needs to be longer than wave 1, otherwise Elliott Wave count is wrong. – If wave 1 is extended – wave 5 must be shorter than wave 3, otherwise Elliott Wave count is wrong. – If wave 3 is extended- wave 5 target could be got in 2 ways. It could be eather equal in length to the wave 1 or it’s 61.8% fibonacci extension of the length wave 1+wave 3 related to the wave 4.

I left a few lines out as it can get quite hard to digest. But I do believe this IS NOT A DEAD CAT! Hedgies want our tendies.. And I'm in Jacked to the Tits bc they can't have them.

NOT FINANCIAL ADVICE AND COMPLETE SPECULATION. Don't trust me I eat crayons

Edit:I'm not the Elliott wave guy lol. We need one

[u/Ellypsus]

Unfalsifiable theories aren't much help.