L1 movement was formed between March dip to August high. Assuming this is wave 1 of Elliot Wave impulsive move, and a correction made since early of September being the wave 2.
Then how far the next wave 3 can send us all to? Usually wave 3 is always very strong and can send as far as 1.618x to 3x of wave 1 movement. Right now, I believe we are sitting at 1.618 times of wave 1 movement which is at about $23,700 range, which is L3. This wave 3 was calculated starting from a dip made in September.
Copy paste L1 to the dip made in September and we get L2 which give us $18700 therefore price pause for awhile at that area last few weeks if you recall.
Extend L2 by 1.618x then you get L3 which is where we are currently at now and again price is pausing awhile at this level now, aka digestion period.
L4 and L5 are further extension of the final momentum of this wave 3 I believe which either could send us to $27,000 or $30,000 in coming days or weeks ahead before we see a major correction of ABC wave.
Therefore $30,000 target is very achievable. Wishing you all a Merry X'mas and a Happy New Year!
Then how far the next wave 3 can send us all to? Usually wave 3 is always very strong and can send as far as 1.618x to 3x of wave 1 movement. Right now, I believe we are sitting at 1.618 times of wave 1 movement which is at about $23,700 range, which is L3. This wave 3 was calculated starting from a dip made in September.
Copy paste L1 to the dip made in September and we get L2 which give us $18700 therefore price pause for awhile at that area last few weeks if you recall.
Extend L2 by 1.618x then you get L3 which is where we are currently at now and again price is pausing awhile at this level now, aka digestion period.
L4 and L5 are further extension of the final momentum of this wave 3 I believe which either could send us to $27,000 or $30,000 in coming days or weeks ahead before we see a major correction of ABC wave.
Therefore $30,000 target is very achievable. Wishing you all a Merry X'mas and a Happy New Year!
Trade closed: target reached:
I believe L4 is the top for now, refer to my new idea. Becareful at this level, reversal can happen anytime.
Trade closed: target reached