This has been a difficult wave to figure out, even in retrospect. I will update this with more detailed charts explaining how I got my counts. I actually have three different counts, all with the same targets. This is just to track and show targets.
case (green EW count), we just finished wave c and are about to finish a into a 5-wave to complete our first leg up of wave (c). Disregard the horizontal line for this scenario.
case is we still have yet to have our fifth impulse wave down to complete wave c. At least this count could be invalidated if we cross above the horizontal into the price range of wave 1, but it is giving us good resistance right now. I came to this count a few different ways, but included extended subwaves, either i or iii . I will post cleaner charts from MotiveWave software I am using.
case target: $11,000
case targets: $8000-$7500
I am leaning towards the count, as I have more independent indicators pointing towards the same targets, which I always like to have in my back pocket. ( , 0.618 fib retrace of rally from Feb. 6th, 1.618xA=C, etc.)
Stay tuned for updates.
(I will try to make a post on Ethereum tonight, but I will say it is looking a lot stronger currently)
The range on the 61.8% and 78.6% retraces since the Feb. 6th lows is $8150 - $7300.
The most convincing one in my eyes is the fact we are (presumably) finishing an ABC in which most cases C = A, 0.618*A or 1.618*A. Since the first two are no longer options I assumed the case where C = 1.5*A and 1.618*A which gives us a range of $7884-$7626 roughly.
The median line of our downtrend pitchfork is in the same area as all of the above, depending on timing.
Here's a quick (messy) chart showing all of the above.
Last but not least here is my leading EW count as well as the fibnacci pinball showing price target for wave V being around $7750.