SUMMARY
DECRED placed five solid impulse waves. Eliott Waves states that after every five impulse waves, a three wave retracement is required. This retraced occurs as an a,b,c (red) three wave and corrects often to the level of prior wave iv (white). That means a deep correction is expected and has started.
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Nice heads up!
Hope you don't mind if I post here... let me know.
https://steemit.com/decred/@daverex/decred-down-then-boom
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I have been researching Decred, and find your analysis very telling. Decred has been described as Bitcoin 3.0 by some. Since it is a hybrid proof of stake and proof of work, it is a potentially very interesting currency. CryptoBud did a pretty good analysis of Decred in the video below, however, the analysis presented here is based on the Fibonacci Patterns / Elliot Waves versus the business case. I like the wave / herding math analysis as a more robust predictor. Overall, I will continue to research this coin. Thank you for the excellent analysis.
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Thank you for the comment. I, alas, won't view the analysis you shared from CryptoBud. The only reason is so that I won't risk having my analysis in my head influenced by another's.
I'm human and have long ago decided to rarely review another's analysis of the same coin or equity. This way, I can better follow MY analysis. This way, I won't be swayed and can live and die by my own "sword". :-)
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nice post.
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Thanks, very informative post,
Hope Support me, follow and up votes @Josna
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