Expecting BTC to finalize Elliott's 5th wave but then what?
Hey all,
I'm expecting BTC to finalize Elliott's 5th wave at around 26K and then we'll watch. If we see that, there are 2 main scenarios.
One is that BTC has already found the dip at 15K , started a new 5 wave cycle and we'll be done with the first one of it. Then we expect a deep correction of wave 2 to until 17-19K. If the crucial support really support the price then we may go up around 40K or even above.
Another scenario is that we haven't found the dip yet and we are now in the wave 4 with a flat correction. Flat correction's last wave consists of 5 sub waves as same as I mentioned above. This is very confusing and making a decision gets even more difficult.
Well, when we see the price at 26K, how can we identify if we'll see a correction or an impulsive wave to find a new dip?
If it's a correction we should see the price going down with A-B-C type, if it's impulsive wave and going down to find a new dip then we should see 1-2-3-4-5 type down!
I'll update this graph!
Please do your own research! Make comments and let's discuss!
Cheers!
I'm expecting BTC to finalize Elliott's 5th wave at around 26K and then we'll watch. If we see that, there are 2 main scenarios.
One is that BTC has already found the dip at 15K , started a new 5 wave cycle and we'll be done with the first one of it. Then we expect a deep correction of wave 2 to until 17-19K. If the crucial support really support the price then we may go up around 40K or even above.
Another scenario is that we haven't found the dip yet and we are now in the wave 4 with a flat correction. Flat correction's last wave consists of 5 sub waves as same as I mentioned above. This is very confusing and making a decision gets even more difficult.
Well, when we see the price at 26K, how can we identify if we'll see a correction or an impulsive wave to find a new dip?
If it's a correction we should see the price going down with A-B-C type, if it's impulsive wave and going down to find a new dip then we should see 1-2-3-4-5 type down!
I'll update this graph!
Please do your own research! Make comments and let's discuss!
Cheers!