BTC eliott wave support zone
The green box highlights the most likely support zone for atleast a decent bounce if not the reversal.
It's the .236 of the normal fib and log fib of wave 3.
After the bounce we can calculate if it aims for the 51k region for a full retrace or not.
Remember, 30% pullbacks are normal for BTC and we havent had one for a long time. Also, this is only the first weekly candle for a pullback. 3-4 can easily happen on breaking ATH's.
It's the .236 of the normal fib and log fib of wave 3.
After the bounce we can calculate if it aims for the 51k region for a full retrace or not.
Remember, 30% pullbacks are normal for BTC and we havent had one for a long time. Also, this is only the first weekly candle for a pullback. 3-4 can easily happen on breaking ATH's.
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