Hello to Everyone.
I have prepared BTC Chart for final leg down of 5. wave
As we know today btc price hit third time to donwtrendline from 65k. so I think it will go down to finish its fifth wave.
as you can see on chart 2. wave correction was zig-zag (5-3-5) and 4. wave correction flat (3-3-5). I did not draw sub waves but if you zoom in you will be able to imagine them.
according to Elliot Waves, if 2. wave retracement does 61.8 then wave 4 retracement is expected to be 38.2.
on this chart 2. wave's retracement a little above of 61.8 fibo, and 4. wave's retracement a little above 38.2 fibo too.
So there are no any perfect match on these retracement and there is no such thing as %100 obeying the written rules. so violations are inevatible.
and final target we have 3 level,
usually wave 1 and wave 5 will be equal if wave 3 extended. so our target will be around 24.6k, other 5 wave's targets fib 1.236 and fib 1.618.
Let see if it happen.
Thanks.
I have prepared BTC Chart for final leg down of 5. wave
As we know today btc price hit third time to donwtrendline from 65k. so I think it will go down to finish its fifth wave.
as you can see on chart 2. wave correction was zig-zag (5-3-5) and 4. wave correction flat (3-3-5). I did not draw sub waves but if you zoom in you will be able to imagine them.
according to Elliot Waves, if 2. wave retracement does 61.8 then wave 4 retracement is expected to be 38.2.
on this chart 2. wave's retracement a little above of 61.8 fibo, and 4. wave's retracement a little above 38.2 fibo too.
So there are no any perfect match on these retracement and there is no such thing as %100 obeying the written rules. so violations are inevatible.
and final target we have 3 level,
usually wave 1 and wave 5 will be equal if wave 3 extended. so our target will be around 24.6k, other 5 wave's targets fib 1.236 and fib 1.618.
Let see if it happen.
Thanks.