A laborious proof:
Motive Waves (If my analysis is correct ...):
Wave X (blue): The rise from 2020 to 2021 was wave X (keep it simple!).
Corrective Waves (Expanded Flat):
Wave A (black): (Apr-Jun) 2021 was a "A" wave (Wave A = 61.8% of Wave X).
Wave B (green): Wave B terminates about at the level of the beginning of wave A (Wave B = 123.6% of Wave A).
Wave C (purple): Wave C = 123.6% of Wave B.
Wave XX (Orange) , What might this be?
No one really knows but Wave XX does not yet look complete!
Why?
Each (corrective) wave relates to the previous wave by 50% or (61.8%, 76.4% or 85.4%) (if you see what I mean!)
So
Fib 0.5 would be a reasonable target! (Target = $ 42000)
We'll see!
Details:
Motive Waves (If my analysis is correct ...):
Wave X (blue): The rise from 2020 to 2021 was wave X (keep it simple!).
Corrective Waves (Expanded Flat):
Wave A (black): (Apr-Jun) 2021 was a "A" wave (Wave A = 61.8% of Wave X).
Wave B (green): Wave B terminates about at the level of the beginning of wave A (Wave B = 123.6% of Wave A).
Wave C (purple): Wave C = 123.6% of Wave B.
Wave XX (Orange) , What might this be?
No one really knows but Wave XX does not yet look complete!
Why?
Each (corrective) wave relates to the previous wave by 50% or (61.8%, 76.4% or 85.4%) (if you see what I mean!)
So
Fib 0.5 would be a reasonable target! (Target = $ 42000)
We'll see!
Details:
Note
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2017-2019Note
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2019-2020Trade active
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Certainly it's a bull market. 1- What can happen (& how fast it can happen) !?
2- what can we do?
3- (a very basic question) what should we do?
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Losing money is a choiceNote
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Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.