Description
⋅ Elliott wave theory shows us return to wave 1 support after completing a 5 wave pattern.
This suggests we return to support at aprx. 1.2K USD.
This also line up with the 2.618 Fib for wave 3 on the final "c" waves.
That being said, BTC will not just dump to 1.2K, it will have bounces on the way down, i just haven't included those in this chart.
Targets are indicative of price and not time.