〽️ $RIVER Elliott Wave Update, We might be at the bottom right now.
I've been tracking this structure since February and the wave count is getting interesting.
LuxAlgo just printed wave (5) right into the blue demand zone at $11–$13. That's the same level that launched the previous impulse to $32.
In Elliott terms, 5 waves down = corrective sequence complete. What comes next is a corrective rally or a full new impulse depending on how price reacts here.
The blue horizontal band has been tested 3 times. Each test, buyers absorbed. That's not weakness, that's accumulation disguised as a downtrend.
My invalidation: daily close below $10.50. That flips this entire count.
Above $17? Wave (1) of the new cycle is confirmed.
Sitting on your hands or loading here? 👇