On the monthly time frame BTC moves in a textbook Elliot Wave Formation, following its mathematical rules up to now perfectly:
1. Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1
- Wave 2 is 50% of wave 1
2. Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2
- Wave 3 is EXACTLY 261.8% (2.618) of wave 1 with the wick of Nov 21
3. Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50%
- Wave 4 is EXACTLY 50% of wave 3 but no more (currently)
4. Wave 5 is inverse 123.6 – 161.8% retracement of wave 4
- Gives us a price target of 80K to 123K for wave 5
No financial advice!
1. Wave 2 is 50%, 61.8%, 76.4%, or 85.4% of wave 1
- Wave 2 is 50% of wave 1
2. Wave 3 is 161.8%, 200%, 261.8%, or 323.6% of wave 1-2
- Wave 3 is EXACTLY 261.8% (2.618) of wave 1 with the wick of Nov 21
3. Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50%
- Wave 4 is EXACTLY 50% of wave 3 but no more (currently)
4. Wave 5 is inverse 123.6 – 161.8% retracement of wave 4
- Gives us a price target of 80K to 123K for wave 5
No financial advice!