Still feel there is bit of a run left in this upward cycle. I am no expert but usually (with the speculative stocks especially) the Elliot waves are nicely seen. This run up seems to fit the guidelines. If one sees just this run up from last month there are these impulse waves. Wave one is the beginning, wave 3 is when the momentum builds and this is when there are gap ups, high volume and Fib breaks and all these have happened. Elliot wave 3 is usually 1.618 to 2.618 extension of Wave 1 (together with its correction Wave 2, see extension on the left). We did see a peak at 1.6c which is a 2.618 extension to the very point. So that likely ends wave 3. What follows is a pause in upward movement and a retrace usually to 38% Fib level (of wave 3, see fib grid on the right). This happens to be 1.2c which has also happened now. If this holds, it gives time for the daily 8ema, the green line to catch up to the price and acts as a good level for the next wave up which is wave 5. You can see the 8 ema catching up with the price at 0.005 level before and then huge push upwards. I see a run till 1.6c at least if w5=w1 which is usually the case. There is nothing scientific about it but the levels many times hold. Lets see how it goes. All of the above is just for the current wave. It also depends on the larger cycle from the last few months which to my newb eye is not clear which I already posted before once.
Chart, page-2
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