BLZETH appears to be finishing off a correction on Wave 5-1 (Of Cycle 1) Based on Fib Ratios of Wave 1, Wave 3, and Wave 5-1 - and confluence zones between them... It seems likely that Wave 5-3 will land somewhere in the 0.00107 area. After a correction, likely to no lower than 0.00102, it should continue on a path to around 0.00117. At this point, 5 waves will have been completed of a large market cycle, and we can expect heavy retracement. If it hits the 0.5 retracement level, we can expect prices to drop to around 0.00085 again. Maybe as low as 0.0007.
Whereby it should begin Cycle 3 - which I imagine will be a very profitable cycle. My wild projection for Cycle 3 will be a final price target of around 0.0019. Perhaps around December?
Comment
⋅
Totally miscalled this one. Published an update on this under BLZBTC.