Bitcoin mid-term Potential reversal zone(hereafter PRZ)
Hi, I've researched and tried to a PRZ in mid-term on bitcoin. Please see the below for the TA
1. XA : AB were in ratio of 61.8%
2. AB : BC were in ration of 61%
AB : BC was overextended over 0.382 that 0.382 area was not accepted. By the way, 0.886 were not reached out and stopped around 61 that I decided to take 0.886 Fib ratio for crab pattern
Taking into an account of my premises are all in validation, I could expect a swing high of PRZ are estimated at 3.618 of BC length. Coincidentally, Estimated D is well matched up with 2.618 Fib ratio when we first saw the bullish sign on the 1st of April.
By the way, After D, Based on the theory of Elliot wave alternation guideline in correction, I could carefully expect an end point of on coming correction area would stop around 21,300
We will see how it goes
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