everyday i am learning something new about elliott wave and this is why i had to go back on my bitcoin chart and apply what i had learned. this is my new outlook on the coin and if it doesn't reach these levels atleast the first one i would be very curious to see how the waves are going to play out. short term bear to around 7.8 (around the fib that is shown) and long after that.
Please let me know what you think.
Please let me know what you think.
Comment:
considering these are rough targets, the second wave may not be finished and can in fact retrace all the way to 6650, it is previous support and less than a 100% retracement of wave 1, if this occurs, following targets must be adjusted. also, considering this is bitcoin the 3rd wave may be a 2.618 extension or even a 3. wave 5 and 4 would need to be adjusted if this occurs