Short

Playing with elliot wave

Updated

Im still learning elliot wave so Im sure I could use some help. Anyway it looks like we had a failed impulse and we are going down for 12345. Looks like we are on way 2. By looking at fib extensions we could move down to the red or blue arrows. The red is if we break down from here and the blue is if we break up to around 8600. Im just waiting to see what happens. I would appreciate some comments and suggestions. Also if you compare the Nasdaq dotcom bubble compared to where we are now we seem to be following the same downward channel. I beleive we have made a 5 wave completeted impulse wave cycle in bitcoin and we are not done correcting.

Note

2900 is possible now that we broke down

Note

or 2810.11 if specific
according to the 1.618 fib extension and probable area for fib retrace after a parabolic move

rrood

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.