After a big 12345 impulse wave, the price of Decred has been in a falling wedge and using Elliott wave principals I have projected the likely scenario. I think that this will be and WXY complex correction. As wave W sits on the 0.5 Fibonacci extension tool, and that wave Y sits on the 0.5 Fibonacci retracement tool, wave Y will end on the 100% of the Fibonacci extension. The price is currently in an ABC correction much like at the beginning of the wedge, and wave C will break the support levels at 0.01179236 (0;0.5 Fibo levels), which will propel further selling.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.