$BTC [1W]: #Elliottwave channeling method shows 200k+ is possible within months.
✅Macro 3-4 retraced to the terminus of the 3-4 wave within Macro 2-3 wave (dashed line)
✅1-2 SHARP
✅3-4 FLAT
source: Elliott Wave Principle Key to Market Behavior by Frost and Prechter.
#BTC
✅Macro 3-4 retraced to the terminus of the 3-4 wave within Macro 2-3 wave (dashed line)
✅1-2 SHARP
✅3-4 FLAT
source: Elliott Wave Principle Key to Market Behavior by Frost and Prechter.
#BTC
![$BTC [1W]: #Elliottwave channeling method shows 200k+ is possible within months.
✅Macro 3-4 retrace...](https://pbs.twimg.com/media/FSbEr3yXEAIoC3A.jpg)
+ Full channel through 1-2-3-4 fits like a glove too.
+ Decade VWAP located at current price level;
+ Fibonacci support of 3-4 wave has been tested 3 times successfully;
+ RSI on almost any timeframe oversold
+ 210k lies at 2.618 extension of double bottom formed by A and C
+ Decade VWAP located at current price level;
+ Fibonacci support of 3-4 wave has been tested 3 times successfully;
+ RSI on almost any timeframe oversold
+ 210k lies at 2.618 extension of double bottom formed by A and C
Falling wedge on weekly RSI in play.
Fibonacci 2-3 support visualized as green box.
Decade VWAP shown as blue line.
Fibonacci 2-3 support visualized as green box.
Decade VWAP shown as blue line.
Examples
Market psychology within the channel up.
Another example of a complex flat corrective wave correcting to the terminus of the iii-iv wave within the 2-3 wave. Common grounds.
Of course this setup can fail. Breaking the 3 top and flipping it to support is necessary for continuation.
If it fails to do so, the fifth wave can end truncated like in the figure below.
If it fails to do so, the fifth wave can end truncated like in the figure below.
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