Usually, wave 3 extends 1.618 of wave 1; however, Cryptos often take price swings to the extreme, especially on an impulse. So, if the extension is 4.618; that gives a $53k potential target.
The current correction is likely to tag the 0.618 Fib level and that stands at around $7,227 and jives with the level of the lower white trendline.
Everyday, I release a 10 minute video analysis of Bitcoin on Haejin.com, weekends and holidays too as cryptos never sleep. The video contains a primary and alternate counts of ELliott Waves, Patterns and at times Cycles.
New quarterly Gold membership is now available to evaluate the site.
The current correction is likely to tag the 0.618 Fib level and that stands at around $7,227 and jives with the level of the lower white trendline.
Everyday, I release a 10 minute video analysis of Bitcoin on Haejin.com, weekends and holidays too as cryptos never sleep. The video contains a primary and alternate counts of ELliott Waves, Patterns and at times Cycles.
New quarterly Gold membership is now available to evaluate the site.