Good morning
A quick update, not much has changed.. we are still in the correction after the diagonal, but the count of the correction has slightly changed as follows :
The correction started with a flat for W - the c-wave wanted to look like a diagonal, but it was a normal impulse, I stated several times on X that wave v certainly looked like a five and not a three, eventually I figured it out, the 2nd wave of the impulse was confusing. Anyway, the flat was followed by a three wave bounce for X. And now in wave Y.
We know that Y can be a triangle, but I don't think this is the case here because it looks like we have an impulse down from the X high, so this impulse is then a of Y. Then there is a mess with zigzags up and down, it might work as a triangle in the B wave position, if so it completed at Fridays high. IF that high stays in play this is the place where c of Y starts. So we have to monitor to see if that high gets taken out or not. If not we should eventually see more weakness for wave iii of c, then maybe a sharp iv followed by a final decline for wave v, and that is where Y would end and also the place where the correction potentially ends. But it can also form a triple zigzag if it wants to waste more time. The expanding diagonal took 754 days to form and we are now in day 27 of our correction. Is that enough? I don't know. But it might be an acceptable time.
So in the big picture, if that extra weakness comes it will most likely cross below the diagonal trendline and maybe reach the 38,2% correction? And yeah, hopefully we'll then see a strong upward reversal in a third wave at some point, and as stated before that third wave can do what it wants.
I hope the correction is in its final phase, but it might want to shake out some weak hands before mooning. Or maybe this correction is only the beginning and will take way more time? It's certainly possible.... keep that in mind.
Well, let us hope that the new year starts nice for the XRP holders, it certainly could, but there is no guarantee.
Best wishes,
