Double zig-zag correction targeting the fib golden pocket?
Updated
Looks like a Elliott’s double zig-zag corrective pattern to me. WXY where W is the first zig-zag, X is the 3-wave connection in a form of a zig-zag too, and Y should be a similar zig-zag bringing us to the confluence of the:
- 0.618 retracement of the last swing low (preceding this correction),
- the 50 Day MA and
- the expected target for the already developed correction (fib extension 1.0, if it reaches the 1.618 it will touch the 100 Daily MA at around 30k - this happened at every correction during the 2017 bullrun, but was missing in our last one because Elon pumped the shit out of our charts).
What do you guys think?
Trade active
So far so good. Personally I´m camping at 40.500 USD (limit buy) just to be safe.Do you guys think it can break the 40000 barrier?
Elliot Wave count is looking good right now :)
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