Bitcoin. Target 4200.
Updated
Inputs:
- 5-th wave finished. HIGH 7900.
- 5-th wave's trend line and channel broken down
- Last week candle was bearish
- Wave A finished. LOW 5400 (50% of 5-th wave).
- Wave B resistance 6650 (50% of wave A).
Output:
- corrective wave C target 4200. (100% of wave A)
- 5-th wave finished. HIGH 7900.
- 5-th wave's trend line and channel broken down
- Last week candle was bearish
- Wave A finished. LOW 5400 (50% of 5-th wave).
- Wave B resistance 6650 (50% of wave A).
Output:
- corrective wave C target 4200. (100% of wave A)
Trade active
Bear wedge pattern. Target 4600.Trade active
There can be a stretched flat correction after a stretched 5th wave where B wave can make new HIGH. (Comprehensive Course on the Wave Principle A.J. Frost and Robert Prechter Jr.)
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