This is not trade advice just my own thoughts from my analysis.
Using a fibonacci channel and elliot waves, it can be seen the clear channel that has developed and the key waves that have formed.
I believe we are currently on the 5th and final wave of the primary wave, but as I have marked out on my chart, believe we are currently on the "C" in an ABC correction of the 4th subwave. This is formed of a 5 wave cycle which is forming in a downwards channel.
I predict that this correction wave will end between 18-20k but then rally back up for the 5th and final subwave. Depending where the "C" wave ends will determine where I think the rally will go up to and I will measure this using fibonacci retracement and will expect the rally to go to either 127.0 or 161.8 retracement levels. Early predictions of this takes it to approx 100-150k
Using a fibonacci channel and elliot waves, it can be seen the clear channel that has developed and the key waves that have formed.
I believe we are currently on the 5th and final wave of the primary wave, but as I have marked out on my chart, believe we are currently on the "C" in an ABC correction of the 4th subwave. This is formed of a 5 wave cycle which is forming in a downwards channel.
I predict that this correction wave will end between 18-20k but then rally back up for the 5th and final subwave. Depending where the "C" wave ends will determine where I think the rally will go up to and I will measure this using fibonacci retracement and will expect the rally to go to either 127.0 or 161.8 retracement levels. Early predictions of this takes it to approx 100-150k
