53k?
Updated
that's right, as the title says; i think we're going to 53k.
before you say "but elo, wave 1 and 4 can't overlap"
read the rules of an ending diagonal 👇
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so Wave C is playing out as an ending diagonal
which gives us the final fifth leg closer to 53k,
completing a near perfect mean retracement.
once this 53k target is met, bitcorn will drop 50%+ (keep this in mind).
refer to my macro count for more context đź”»
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wave 4 of wave c = 41k
wave 5 of wave c = 53k
before you say "but elo, wave 1 and 4 can't overlap"
read the rules of an ending diagonal 👇
---
so Wave C is playing out as an ending diagonal
which gives us the final fifth leg closer to 53k,
completing a near perfect mean retracement.
once this 53k target is met, bitcorn will drop 50%+ (keep this in mind).
refer to my macro count for more context đź”»
------
wave 4 of wave c = 41k
wave 5 of wave c = 53k
Comment
To all the ewt enthusiasts out there; here's another way of counting this structure.Different approach, same result.
Comment
flat vibes. if this plays, downside target moves to 41k, and the ending diag gets tossed.luckily, the count i shared above is still at play.
Order cancelled
This idea has been pretty much invalidated; refer to the update for more context
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