LUNC/USDT Elliot wave count

Diupdate

This seems like the most obvious/most simple count now on this , 5 waves to standard fibs, then a Fomo X wave that resolves somewhere in there

Catatan

Catatan

could go as deep as this

Catatan

theres a possible horror show here, cos im just thinking - and please correct me if im wrong , but because of staking rewards the circulating supply is even bigger than it was before- because the burn tax hasnt been implemented yet, which means there are now billions more coins for people to dump, hadn't considered this up to now , but that could send it way down surely?

Catatan

i understand that some validators are burning rewards but id think that was a drop in the ocean when you weigh it up against total supply ?

Catatan

could be headed for a full retrace of the entire wave here

Catatan

if it falls below the 2.618, then ill say we are almost certainly looking at a 5 wave structure

Catatan

which would be somewhere around the 0.786 retrace of the entire move

Catatan

could have the 1-2 of 5 in .

Catatan

Not long now - Another day or two i would think,

Catatan

we could get a capitulation wick down there somewhere, so it might be worth holding a bit back, and sticking some low limit buys in to catch the falling knife

Catatan

tbh, i think theres a fair chance it goes almost to zero again, because my take is, staking rewards are being dumped faster than the market is willing to buy, so its a supply/demand thing, the burn tax has the vote, but nothing happens untill the 20th excepth billions of new coins getting dumped and not enough buyers to slurp

Catatan

Should be the final count on this

Catatan

so heres the problem, with no break up, weve got a heaad and shoulders here, so what I thought was an impulsive move to the upside, could in fact just be an A-A-C corrective move off of that first high, if you didnt sell above, or bought below, then two words at this point - Stop Loss

Spocks-Beard

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