Hello guys,
This is my thought on BTC.
We can see that we are still in the corrective phase of an Elliot wave, we already have passed A & B but C is still going.
I tried to determine where C will ends, I've got a zone between 8.3k and 8k, to calculate it I used :
- fib extension 1:1 of the A-B corrective waves
- 1:618 fib extension of the 2 first waves already formed inside B-C
I also used the fib retracement on the whole motive phase, the 0.618 is at 8.2k just in the middle of my zone. I believe C will ends there, but what after ? Run to the 14k+ ? Maybe, maybe not, I don't know, I hope so :D
I'm pretty new so don't take this as a PRO analysis, you're welcome to give me any suggestion.
Enjoy ;)