So far I have been convinced whole move that started in 2016 is wave 5. As 5th waves are usually weaker than previous 3rd waves I have been cautions last two years.
However currently I'm beginning to think the move could be wave 3. Following are few symptoms this could be 3rd wave:
- media writing and talking about bitcoin but almost all of them dismissing it as bubble
- bitcoin slowly entering Wall Street
- almost everyone from general public heard about it but nobody is invested
If we are in 3rd wave indeed there are several fibonacci targets that should be kept in mind. Most probable targets are:
- wave 3 extends and is equal to 1,618 x wave 1: $129 000
- wave 3 is shorter and is equal to 0.618 x wave 1: $50 000
However currently I'm beginning to think the move could be wave 3. Following are few symptoms this could be 3rd wave:
- media writing and talking about bitcoin but almost all of them dismissing it as bubble
- bitcoin slowly entering Wall Street
- almost everyone from general public heard about it but nobody is invested
If we are in 3rd wave indeed there are several fibonacci targets that should be kept in mind. Most probable targets are:
- wave 3 extends and is equal to 1,618 x wave 1: $129 000
- wave 3 is shorter and is equal to 0.618 x wave 1: $50 000