EW Analysis: First 10$ and lower, then uptrend to 200$ possible

6 May 2022

A quick high level analysis of Link.

Observations:

* has been in a protracted downtrend (Wave 2) since May 2021 after completion of 5-wave-impulse up (Wave 1)
* downtrend looks like a Double Zig Zag
* Double Zig Zag not yet finished, one more low, we seem to be in the middle of wave 5 of the Y-leg

Thesis:

Link was the star of the last bear market. It might be the star again of this bear market.

I expect it to break 10$ and hit the area around 6-7$. If we get a bigger crash, 4$ seems possible as well. 4-7$ could be the areas for reaccumulation before a new uptrend starts which would be Wave 3 in the bigger picture. Fib-Level fits nicely to around 200$ as a target.

This idea will need years to play out.

This thesis is proven wrong if we break the area of 1.50$.

16 May 2022

Not

We hit the accumulation zone briefly last week. Link shows a clear reaction at the 1.272 extension fib. Let's see over the coming months if it forms a bottom here or indeed one leve lower at the 4$ region.