So, Last time I had projected a bottom of our Wave 4 Correction at the 0.382 Fibb, well we're so boolish we didn't even make it there!! Remember this only happens around 15% of the time. So now we are targeting the top of Wave 5 and the completion of our 5 Impulse Wave Structure.
I don't quite have a Subwave count yet because there isn't enough data. If you say "wait but i see 5 waves up already!," Well, you're wrong. Don't forget that Wave 4 cannot retrace into Wave 1 territory, and if that little structure were to be 5 waves it would violate a primary rule of Elliot Wave Theory.
Targeting the 3.618 Fibonacci Extension of Waves 1 and 2 for Wave 5 since Wave 3 came extremely close to hitting the 2.618. Which would make 3.618 a 1-1 of Wave 1. Which is extremely common when Wave 3 is the longest.
Target for Wave 5 is 0.00004460 BTC
I hope that you enjoyed my analysis. Please always remember that targets are not set in stone and to always practice proper risk management! Please like and comment any questions you may have below. Happy trading!!
I don't quite have a Subwave count yet because there isn't enough data. If you say "wait but i see 5 waves up already!," Well, you're wrong. Don't forget that Wave 4 cannot retrace into Wave 1 territory, and if that little structure were to be 5 waves it would violate a primary rule of Elliot Wave Theory.
Targeting the 3.618 Fibonacci Extension of Waves 1 and 2 for Wave 5 since Wave 3 came extremely close to hitting the 2.618. Which would make 3.618 a 1-1 of Wave 1. Which is extremely common when Wave 3 is the longest.
Target for Wave 5 is 0.00004460 BTC
I hope that you enjoyed my analysis. Please always remember that targets are not set in stone and to always practice proper risk management! Please like and comment any questions you may have below. Happy trading!!
