EWT For NANO
Updated
I have found a possible Elliot Wave pattern for wave 3 of our current NANO run. The (12345) Wave has been adjusted slightly to match up with the trend based fib extension target of the larger 1-2 Waves, but each wave has been calculated individually. If we do see a full wave 3, we can expect a target of 0.0029 BTC if not more by the final Wave of this Wave 3.
Note
Additionally, if we consider the initial run from 1k Satoshi to 25k Satoshi as a Wave 1, then our Wave 2 did a 0.786 retracement and now has begun wave 3. This puts the end of the highest Wave 5 in my original post to be around 48k Satoshi, which means the wave 3 or wave 5 in the above diagram will be extended.Note
One last thing to add; All of this is also in a wedge that broke upward just before this. This means that our Wave 1 might not even be officially finished yet. This means that it can still top out, but the retrace will be at least 0.5 or 0.618 of the full wave 1 length after we top out.Note
Quick update because my original count is mostly invalid outside of the eventual target ranges. We have support on a trend line at 14.3k, so I would assume that we bounce there as that is a 0.5 fib retracement on our Wave 2 subwave. However, since Wave 2 can also retrace to the 0.618 levels, a 14k hit can also occur.
I believe however that if we fall through that 14k level or fail to break out afterwards, we may only be in an ABC retrace on a larger wave 2, and will eventually bottom out to 10k before the "real" wave 3 begins with targets of 27.7k sats.
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