Splinterlands - SPS Price Forecast
In my latest video we look at a pattern that has emerged in relation to SPS' price action.
The pattern is called a double three, which is a sideways combination of two Elliot Wave corrective patterns that are interconnected by another intervening wave. Included in this pattern could be a zig zag, flat, or triangle. When two of these corrective patterns are combined together, we get a double three. These connective waves are represented by WXY.
The Guidelines:
• A combination of two corrective structures labelled as WXY
• Wave W and wave Y subdivision can be zigzag, flat, double three of smaller degree, or triple three of smaller degree
• Wave X can be any corrective structure
• WXY is a 7 swing structure
In addition it's important to understand the Fibonacci Ratio Relationships between these moves.
The following are the relationships we need to know:
• Wave X = 50%, 61.8%, 76.4%, or 85.4% of wave W
• Wave Y = 61.8%, 100%, or 123.6% of wave W
• Wave Y can not pass 161.8% of wave W
In the video we plot out the variables of the pattern and talk about how it forms.
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▶️ 3Speak
I recently hit my SPS target goal (45 days earlier than expected). I'm contemplating converting new daily SPS airdrop in DEC to maximize airdrop rewards a bit more for the next 40 days. With the voucher pool being diluted further by nodes and no direct SPS utility we can point a finger at, I don't see any catalysts pushing SPS up much in the near term. Great content as usual. Sharing this on https://twitter.com/PraetoriaDigest.
Congratulations on your SPS target goal! That's wonderful news. Sounds like it could be a profitable move depending on where you think DEC is going to go over the coming weeks. Our 61.8% level is still holding strong, let's hope we see some relief over the coming days. Thanks for sharing!
Huge thankyou for supporting my content and for the upvote Clove. You're awesome :)