BTC Elliott's wave
Before we get into the calculations let's get a few things clear-
*W2 cannot retrace more than 100% of W1.
*W3 cannot be the shortest wave.
*W4 can never go beyond W3 at anytime.
*End of Impulsive waves doesn't mean regressive waves will start. Another 5 Impulsive waves can start (like we see in super bullish alts) or we can see regressive waves.
Calculations of waves using Fibonacci-
*W2- 50%, 61.8%, 78.6%, 88.2% (50% was the bottom)
*W3- 161.8% of W1 (161.8% was the top of W3)
*W4- 14.6%, 23.4%, 38.2% OF W3 (you have the levels to look out for)
*W5- 61.8% of W1+W3 (TP)
*W2 cannot retrace more than 100% of W1.
*W3 cannot be the shortest wave.
*W4 can never go beyond W3 at anytime.
*End of Impulsive waves doesn't mean regressive waves will start. Another 5 Impulsive waves can start (like we see in super bullish alts) or we can see regressive waves.
Calculations of waves using Fibonacci-
*W2- 50%, 61.8%, 78.6%, 88.2% (50% was the bottom)
*W3- 161.8% of W1 (161.8% was the top of W3)
*W4- 14.6%, 23.4%, 38.2% OF W3 (you have the levels to look out for)
*W5- 61.8% of W1+W3 (TP)
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