Good morning

Quick update on this first of November. Not much is new in this update, things are playing out as expected, and that is good. However it appears the diagonal ended on a slight truncation; not very common but I have seen it before in bullish markets. Alternatively the corrective structure could also work as a triangle, but it's harder to fit a triangle in the count. I have an alternative idea but I won't show it as I don't want to bring confusion at this point.

The idea is that we are now in the early phases of an upward 3rd wave. Market certainly did not take much time to correct after the initial impulse, typical for crypto, I guess.... where the upward moves can be very explosive, not the healthiest price action of course, but "fomo" is part of crypto.

So when the current lower degree 2nd wave finishes we should see an explosive rise marking the "3rd of the 3rd". The count has NO degree issues as of now, but I always monitor for it, as it could be an early indication that something else is going on. For instance the current lower degree 2nd wave cannot correct more price then the higher degree 2nd wave, most wave counters will ignore that.

Let me end with a look at the big picture :

If count is correct we are still very early in this fifth wave of the diagonal.

As I stated before wave i of the diagonal took more time then wave iii, this was not expected in an expanding diagonal. But if logic is respected wave v should be even shorter, this means it should have ended before Xmas. Needless to say constant monitoring of price action is required.

That's all for now, hopefully things will continue to play out as expected. As far as investing, I do nothing at this point, my bags have been filled at lower levels. I do have 3 leveraged long positions running though (BTC, XRP & FLOW) performing very well.

Thanks for checking.

Yours,