Wave-2 Ending on Bitcoin, Wave-3 could go to 38k (Elliott Wave)

Wave-2 is equal in time to Wave-1, and has retraced more than 38%. Wave-1 also looks corrective and wave-2 looks like it formed into a double combination. These signs and the bigger picture also indicates it is likely that this impulse forms into a terminal pattern and should get quickly retraced after March.

Wave-3 should go to around 38k which is equal to 61% of wave-1, then wave-4 will probably relate to wave-2 by 61% and wave-5 will relate to wave-3 by 61%. This should put us around 35-36k in Feb/March before we see a meteoric rise for the rest of 2022.

Note

Looks like wave-3 is probably forming into a zigzag or a double combination. Wave-b/x is probably finishing up now and the next wave down should be beginning soon.

Trade closed: target reached

Wave-3 has reached the minimum price target and we are nearing the end of the allotted time, we could go a little bit lower but momentum and price action are indicating we're near a potential bottom.

Wave-4 should relate to wave-2 by 61% and take about 2 weeks before we get the next wave down.

Note

It's almost definitely heading much lower

Note

Moving to this new count because no bottom is forming for wave-3 based on the old count.

Intuit

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Intuit

I no longer post here. Find me on x.com/intuit_trading

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