BTC - 45 Min Chart Update - Extension
Possible extension of Wave C (in the minute degree) of within the larger Wave B (in the Minor Degree).
Extensions can only occur within Impulse Waves 1,3, & 5, therefore extensions can also occur within Waves A & C of corrections.
Extensions, are better known as nested waves. As we know that within Elliott Wave theory rules, Wave 4 cannot overlap with Wave 1. Thus, if the anticipated wave 4 overlaps with the previous Wave 1, then anticipated Waves 3 & 4 need to labeled as Waves 1 and 2 (again) but in the next lower degree.
Extensions can only occur within Impulse Waves 1,3, & 5, therefore extensions can also occur within Waves A & C of corrections.
Extensions, are better known as nested waves. As we know that within Elliott Wave theory rules, Wave 4 cannot overlap with Wave 1. Thus, if the anticipated wave 4 overlaps with the previous Wave 1, then anticipated Waves 3 & 4 need to labeled as Waves 1 and 2 (again) but in the next lower degree.
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