BitcoinLong
Why is no one talking about the .382 Retracement we broke?
Updated
Impulsive Wave 1: 6.1-6.6K
Wave 2: Corrective Wave reaches .6182 Golden Fib Ratio (6.3k)
Wave 3: Almost hits 1:1 Fib Extension (breaks .786 extension clearly tho), clearly hits the .382 retracement of the ENTIRE 7.7K - 6.1K move down
Wave 4 should correct less than Wave 2 (Elliot Wave Theory states corrective waves 2 and 4 are typically inverse, if one retraces to .5-.6182 the other should retrace between .236 and .382
Wave 4: If Wave 3 doesn't reach at least 1:1 extension of Wave 1-2 (6.8K), then Wave 4 should only retrace to 6638 - 6575. If this Wave 3 reaches 6815 - 6785, expect retrace to 6.6k
Wave 5: Projected based on Wave 3 reaching 6.8K, retracing to 6.6-6.575, we should reach 6934, 0.5 retracement of ENTIRE 7.7K-6.1K move down
If you found this helpful, please like.
If you want an educational video next time, please comment.
For God so loved the world that he gave his one and only Son, that whoever believes in him shall not perish but have eternal life. For God did not send his Son into the world to condemn the world, but to save the world through him. Whoever believes in him is not condemned, but whoever does not believe stands condemned already because they have not believed in the name of God’s one and only Son. John 3:16-18 NIV
Wave 2: Corrective Wave reaches .6182 Golden Fib Ratio (6.3k)
Wave 3: Almost hits 1:1 Fib Extension (breaks .786 extension clearly tho), clearly hits the .382 retracement of the ENTIRE 7.7K - 6.1K move down
Wave 4 should correct less than Wave 2 (Elliot Wave Theory states corrective waves 2 and 4 are typically inverse, if one retraces to .5-.6182 the other should retrace between .236 and .382
Wave 4: If Wave 3 doesn't reach at least 1:1 extension of Wave 1-2 (6.8K), then Wave 4 should only retrace to 6638 - 6575. If this Wave 3 reaches 6815 - 6785, expect retrace to 6.6k
Wave 5: Projected based on Wave 3 reaching 6.8K, retracing to 6.6-6.575, we should reach 6934, 0.5 retracement of ENTIRE 7.7K-6.1K move down
If you found this helpful, please like.
If you want an educational video next time, please comment.
For God so loved the world that he gave his one and only Son, that whoever believes in him shall not perish but have eternal life. For God did not send his Son into the world to condemn the world, but to save the world through him. Whoever believes in him is not condemned, but whoever does not believe stands condemned already because they have not believed in the name of God’s one and only Son. John 3:16-18 NIV
Note
zig-zag Wave 4 as predicted.. expect truncated Wave 5 closing position at 6935
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.