Bitcoin Update for Wave 2 on the 30 minute chart Looks like BTC is on the last leg of the correction (C wave) Here is my analysis using previous time length, fibonacci retracement + extension & elliott wave
- Only 21.5 hours from wave 5 to correction low(previous waves 2 and 4 corrections have taken roughly 2 days and a half - B wave hit between 0.5-0.61 fibonacci levels - C wave targetting 0.61-0.78 extension from A+B which also lines up with the 0.382 level from W1-5 ($8478-$8600) - Roughly 21.5 hours for A wave to form. This is a rough estimate for C wave - RSI starting to downtrend - MACD bearish downtrend + histogram ticking down
**KEEP IN MIND THE 5 WAVES FOR C ARE NOT ACCURATE PROJECTIONS, THEY ARE ONLY TO SHOW THE PATH OF THE 5 WAVES** However the 5th and final wave for C should be between $8450-$8650 (according to my analysis)
My Prediction: $8450-$8650
Please let me know what you think! I am always open to feedback, so comments are more than welcomed! Thank you! :)