BKKT Elliott Wave wave 3 potential?
I'm a big Elliott Wave (EW) trader, but sometimes the projections can seem a little outlandish. Then again, when Tesla was way down and wave projection put it up into the thousands, doesn't seem outlandish looking back at it now.
I personally think if someone doesn't want to dive real deep into crypto and digital assets, this at least can provide some exposure. Per the chart, with EW and fib measurements, it looks like a standard .618 retrace and can indicate the potential of beginning a Wave 3 up. Wave 3's are the strongest movements in EW waves; and if it follows anything remotely similar to how the potential Wave 1 played out (going from $8 up to $50), then maybe the 1.618 fib extension measurement for Wave 3 up to the $300 range doesn't seem as outlandish.
I personally think if someone doesn't want to dive real deep into crypto and digital assets, this at least can provide some exposure. Per the chart, with EW and fib measurements, it looks like a standard .618 retrace and can indicate the potential of beginning a Wave 3 up. Wave 3's are the strongest movements in EW waves; and if it follows anything remotely similar to how the potential Wave 1 played out (going from $8 up to $50), then maybe the 1.618 fib extension measurement for Wave 3 up to the $300 range doesn't seem as outlandish.
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