One of the most reliable ways to arrive at target levels for the end of wave five is to use the trend based fib extension tool using 38.2% and 61.8% levels. these levels often act as "resistance" and possible topping areas
(using the tool, select 3 points at wave 0, wave III and wave IV)
Target 1 (38.2%) = 123978
Target 2 (61.8%) = 1059056
The problem with target 2 is wave III cannot be the shortest wave. So wave V cannot exceed 496811 (maximum price for bitcoin during this cycle)
Also, anywhere on the red zone is a possible topping area as markets approach the upper channel line
My previous post using traditional TA techniques comes close to target 1, but I feel this is more accurate.
(using the tool, select 3 points at wave 0, wave III and wave IV)
Target 1 (38.2%) = 123978
Target 2 (61.8%) = 1059056
The problem with target 2 is wave III cannot be the shortest wave. So wave V cannot exceed 496811 (maximum price for bitcoin during this cycle)
Also, anywhere on the red zone is a possible topping area as markets approach the upper channel line
My previous post using traditional TA techniques comes close to target 1, but I feel this is more accurate.