Elliott wave theory shows us return to wave 1 support after completing a 5 wave pattern.
This suggests we return to support at aprx. 1.2K USD.
This also line up with the 2.618 Fib for wave 3 on the final "c" waves.
That being said, BTC will not just dump to 1.2K, it will have bounces on the way down, i just haven't included those in this chart.
Targets are indicative of price and not time.
This suggests we return to support at aprx. 1.2K USD.
This also line up with the 2.618 Fib for wave 3 on the final "c" waves.
That being said, BTC will not just dump to 1.2K, it will have bounces on the way down, i just haven't included those in this chart.
Targets are indicative of price and not time.
Note
Possible bounce targets on ABC correction.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.