Im still learning elliot wave so Im sure I could use some help. Anyway it looks like we had a failed impulse and we are going down for 12345. Looks like we are on way 2. By looking at fib extensions we could move down to the red or blue arrows. The red is if we break down from here and the blue is if we break up to around 8600. Im just waiting to see what happens. I would appreciate some comments and suggestions. Also if you compare the Nasdaq dotcom bubble compared to where we are now we seem to be following the same downward channel. I beleive we have made a 5 wave completeted impulse wave cycle in bitcoin and we are not done correcting.
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2900 is possible now that we broke down
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or 2810.11 if specific according to the 1.618 fib extension and probable area for fib retrace after a parabolic move