BTC FibonacciChannel+Elliott Waves-Wave3 $8200 to $18000 May26th
Trying out Fibonacci Channels, Elliott Wave counts, with Fibonacci Extensions and Retracements correlations for price and date targets
Estimates:
Wave 2 finishing around $8200 (50% of wave 1) Right around the halving
Wave 3 finishing around $18000 (161.8% of Wave 1) Date target May 20th
Wave 4 and 5 are questionable and dependent on Wave 4's behavior
Estimating wave 4 corrects 38.2% of wave 3 around beginning of July (Error in image, fib retracement tool reversed)
and finishing Wave 5 around $22000 around August 20th
Estimates:
Wave 2 finishing around $8200 (50% of wave 1) Right around the halving
Wave 3 finishing around $18000 (161.8% of Wave 1) Date target May 20th
Wave 4 and 5 are questionable and dependent on Wave 4's behavior
Estimating wave 4 corrects 38.2% of wave 3 around beginning of July (Error in image, fib retracement tool reversed)
and finishing Wave 5 around $22000 around August 20th
Note
Here are some Fibonacci Time Extension estimatesThe first one is Wave 1 compared to Wave 3
Second is Wave 2 compared to wave 4
This is experimental
Note
Just to add it here, my wave count for wave 1-2 in the shown labelinghope this works
Note
IF (big if) Bitcoin PASSES $18,000 then the next target would be $30,000 possibly July 4thHowever this scenario has a much lower probability then $18,000 target May 26th
Note
Estimate - Wave 3 broken down into one lesser degreeNote
There is a chance that $8700 holds at the 38.2% retracement as a WXYTrying out a measured move from the Three Falling Peaks correlates.
Fibonacci Extension pulled around first peak to lower low then to higher high
also gives a 161.8% extension target at $8700
This would alter the price and date targets for the end of wave 3
Maybe we make a Triple Combination WXYXZ down to $8200
I am still trying to analyze the correction
Note
Thinking the correction ends here50% retracement of $6455-10522
Also the 161.8% extension was hit
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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.