$BITFINEX:BCHUSD
Wave 3 had traveled to over 400% projection of wave 1. It is interesting also to note that wave i within wave 3 was an extended wave by itself (special case). We then saw an irregular correction as wave 4.
The irregular wave 4 came down to the 23.6% retracement level. You already know that when a third wave extends, the ensuing fourth wave has a tendency to come down only by 23.6% of wave 3.
I have tried to project the possible end point for wave 5. But it has gone above the 61.8% measure of the distance from 0 to 3. Clearly, wave 5 is also extending, the rare case of two extensions within a five wave sequence.
Extending 5th should begin soon. Look for a sub-wave sequence to complete.
Will update.
-AB
Wave 3 had traveled to over 400% projection of wave 1. It is interesting also to note that wave i within wave 3 was an extended wave by itself (special case). We then saw an irregular correction as wave 4.
The irregular wave 4 came down to the 23.6% retracement level. You already know that when a third wave extends, the ensuing fourth wave has a tendency to come down only by 23.6% of wave 3.
I have tried to project the possible end point for wave 5. But it has gone above the 61.8% measure of the distance from 0 to 3. Clearly, wave 5 is also extending, the rare case of two extensions within a five wave sequence.
Extending 5th should begin soon. Look for a sub-wave sequence to complete.
Will update.
-AB
Note
Sub-wave
Note extending 5th
Note
Note
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Spiral Levels
Note
Note
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Smart Money on the move...Note
Above: On Balance Volume + Volume FlowNote
Here is the completed sub-wave.Time to go higher...
Note
Sub-wave didn’t hold...We should hold this level.
Note
Next up...
Extending 5th...
Note
Extending Wave 1?
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.