BTC is likely to retest the 3.6k area before we see 4.3k again.
If 3.6k fails to hold then we might see a drop towards the 3k area.
I believe this area will cause a strong bounce back into the upper range.
I saw a chart by Thewolfofthedesert mentioning an inverted head and shoulders on enjin but have a slight variaton of my own. I do not count the downwards wick on the head because it was a random spike imo.
Thus my personal target would be around the green box between 17xx-18xx because of the length of the head.
His idea was the one who got me started:...
Based on elliot wave theory and fibonacci we can see that the first wave was done around 335 satoshis. The second wave retraced back towards around 275 satoshis. According to the elliot wave theory wave 3 is the longest and will be at least 1:1 with wave one. Using fibonacci extensions around 275 satoshis this will bring us up to around 400 satoshis.
What do you...
Seems like Ethereuem Classic is making its move and should soon go for the 5th wave of the elliot wave. We could see a 1:1 fib extension all the way up to 0.0046291. Target is in the green box.
As usual DYOR.
Feel free to comment.