BTC USD Long term Analysis according to Elliot Wave Theory rules
According to Elliot Wave Theory There are 12345 Motive Waves. And I think the 1 wave for BTC/USD pair begins mid 2016 and ends 11 Dec 17.
Wave 2 Analysis:
Wave 2 should be is 50%, 61.8%, 76.4%, or 85.4% of wave 1. And here we have 0.854.
Wave 3 Analysis:
Wave 3 should be161.8%, 200%, 261.8%, or 323.6% of wave 1-2. We have here 3.272 Fib Extention.
And Wave 4 (Are we on wave 4 now or it will go deeper? Today is 22.06.2021 And BTC value is 35K) .
According to Elliot wave theory rules Wave 4 should be 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50%. If BTC can keep staying uo 28K i think it corrects the rule. And yes it is Wave 4 now.
Wave 5 Analysis: What is the top for this 12345 Motive Waves season?
Again according to Elliot wave theory rules wave 5 is inverse 123.6 – 161.8% retracement of wave 4.
It should be around 75-87K
This is only a reminder for myself. Please do ypur own research.
Wave 2 Analysis:
Wave 2 should be is 50%, 61.8%, 76.4%, or 85.4% of wave 1. And here we have 0.854.
Wave 3 Analysis:
Wave 3 should be161.8%, 200%, 261.8%, or 323.6% of wave 1-2. We have here 3.272 Fib Extention.
And Wave 4 (Are we on wave 4 now or it will go deeper? Today is 22.06.2021 And BTC value is 35K) .
According to Elliot wave theory rules Wave 4 should be 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50%. If BTC can keep staying uo 28K i think it corrects the rule. And yes it is Wave 4 now.
Wave 5 Analysis: What is the top for this 12345 Motive Waves season?
Again according to Elliot wave theory rules wave 5 is inverse 123.6 – 161.8% retracement of wave 4.
It should be around 75-87K
This is only a reminder for myself. Please do ypur own research.
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