Elliot waves notes
.618 of entire structure lands about 22-25k
if current red C begins from 41,500, and if the purple subwave c is the same size as the a, started at the end of b, a 1:1 fib ratio would land it about 22,400
Perhaps yellow 5 gets truncated at old ath, but unlikely due to visible strength in the psychology of crypto markets, measurements based on the whole structure, yellow 1 and 3 would land BTC up near 92k,95k maybe with a throw-over
The wave principle is very visible in crypto markets because the market never closes and value largely rides on speculation of future adoption, news only picks up if we are approaching the end of a wave, or full cycle (sell the news, buy the rumor)
rumor is we're going to 8,16,19,23,28k
there is no real news
.618 of entire structure lands about 22-25k
if current red C begins from 41,500, and if the purple subwave c is the same size as the a, started at the end of b, a 1:1 fib ratio would land it about 22,400
Perhaps yellow 5 gets truncated at old ath, but unlikely due to visible strength in the psychology of crypto markets, measurements based on the whole structure, yellow 1 and 3 would land BTC up near 92k,95k maybe with a throw-over
The wave principle is very visible in crypto markets because the market never closes and value largely rides on speculation of future adoption, news only picks up if we are approaching the end of a wave, or full cycle (sell the news, buy the rumor)
rumor is we're going to 8,16,19,23,28k
there is no real news
Comment:
yellow 2 is flat, so this correction kinda needs to be a zig zag of sorts for 4 before yellow 5