KIN is Bottoming

SUMMARY

KIN is place an impulse with the fifth wave extended. When wave 5 becomes longer than wave 3 or the longest of the actionary waves, it's a sign of an incoming deep retracement. Depending on the degree of extension, the retracement can extend to prior wave 2. The chart below shows an abc ZigZag (5,3,5) correction that could be complete. The subwaves of red A has been labeled into fives.

A closeup of the correction shows there is probable event of five subwaves of the final C wave being complete. IF this is the case, then an impulse set of upward waves need to appear. The overall pattern is also likel to resemble a Cup & Handle pattern. However, further upside price action needs to be evidenced.

The alternate count shows that one more lower low coud still be needed. This is mostly given how Bitcoin might act as even KIN will take its lead.

Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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