ETC Shows that Sentiment is Getting Antsy

SUMMARY

NOTE: Re-posting as original was made invisible by the Trolls and Haters! I give my utmost in all my analysis to provide the best possible tool so requestors can best augment their due diligence. I find it unacceptable to allow Trolls and Haters to make my posts invisible with impunity.

Sentiment can be measured in many ways. The most common is by news media content but for Analysts, the best is by the number of frustration jabs, hate emails and troll activities. These all rise during a correction and peaks near the bottom or the capitulation phase. Even Teeka Tiwari of Palm Beach Confidential gauges the number of hatemails in his inbox. Why? First, it's quite human for people to blame. Second, blaming another allows one to temporarily feel better because it allows one to project the inward guilt outwards. Very human. But for Analysts, the whole thing becomes an effective tool because the frenzy peak of such hatemails signal that the bottom could be near.

The bottom is a chart of Ethereum Classic (ETC). Do you see an extended 5th wave? This means that the retracement of this correction could get deeper than initially thought. I've labeled this as an expanded flat where the B wave is higher than the origin of A wave. For now, the C wave is equal to the prior wave 4 but yes, it can likely be lowered to the prior wave 2 and that's quite a ways down.

There are several ways to lay down the subwaves but the blue wxyxz provides a likely sideways price action pathway. Still, the strokes can be broad and the current decline could be filling in only the Y wave, leaving X and Z as yet to come. Again, that C wave can decline to prior wave 2 but not yet.

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