Bitcoin reached the $9700 level then dipped to hover around the $9200 level. It is still debatable if the rule of alternation between wave 2 and wave 4 applies to bitcoin. We will assume it does until proven otherwise. Corrective are bitches. I like to stay out when they initially develop. If wave 2 was a zigzag, therefore wave 4 could be a triangle, a double or triple zigzag or whatever and the green box could be the possible target. If wave 2 was a triangle, another bullish scenario could take place.
Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets.
DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets.
DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.