Wave 5 Target for WIF now that Wave 4 has ended
This is my area of interest for a top on WIF to complete its first cycle. I don’t hold this crypto in my portfolio, mainly because it did not reach my desired target on its latest correction. I needed a higher projected ROI before adding it, but I’ll still share my analysis.
This projected target area of $6-$7 is based on the inverse of Wave 4. If an extended 5th wave happens, we might see $10-$16. However, that’s not what I’m expecting because Wave 3 is certainly extended @ 9.618 of Wave 1. At most, I believe we see a match of Wave 3 in relation to Wave 1 and this same 9.618 extension from the bottom of Wave 4 aligns with one of three methods used to project Wave 5 targets.
1. Wave 5 is equal to Wave 1. ($1.95 and it’s already above that price)
2. Wave 5 is equal to 0.618 of Waves 1 & 3. ($4.44 and no new ATH would be reached)
3. Wave 5 is equal to 1.236 - 1.618 the inverse of Wave 4. ($5.66-$6.96 and 9.618xW1 is ~$6.01)
The third method outlined is the only one that still sets a new ATH and would also have confluence with a matching Wave 3 at 9.618 times the length of Wave 1.
I also advise caution around the $5.50 area due to confluence with 1.236 inverse of Wave 4 and only an 8.618 multiple of Wave 1. I often see Wave 5’s in crypto finish 1 Fibonacci level lower than the Wave 3 of the same degree, which would be the 8.618 in this case.
This projected target area of $6-$7 is based on the inverse of Wave 4. If an extended 5th wave happens, we might see $10-$16. However, that’s not what I’m expecting because Wave 3 is certainly extended @ 9.618 of Wave 1. At most, I believe we see a match of Wave 3 in relation to Wave 1 and this same 9.618 extension from the bottom of Wave 4 aligns with one of three methods used to project Wave 5 targets.
1. Wave 5 is equal to Wave 1. ($1.95 and it’s already above that price)
2. Wave 5 is equal to 0.618 of Waves 1 & 3. ($4.44 and no new ATH would be reached)
3. Wave 5 is equal to 1.236 - 1.618 the inverse of Wave 4. ($5.66-$6.96 and 9.618xW1 is ~$6.01)
The third method outlined is the only one that still sets a new ATH and would also have confluence with a matching Wave 3 at 9.618 times the length of Wave 1.
I also advise caution around the $5.50 area due to confluence with 1.236 inverse of Wave 4 and only an 8.618 multiple of Wave 1. I often see Wave 5’s in crypto finish 1 Fibonacci level lower than the Wave 3 of the same degree, which would be the 8.618 in this case.
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