Wave 3 reached 300% fibonacci extension (73.8k) and now we are in wave 4 which was predicted since late days of february.
However, this corrective wave (4) may not have ended yet, since due to the extensive length of Wave 3 (300%), a deep correction is expected, possibly reaching the 61.8% level of Wave 3 (44k) or 50% (49.3k).
Here are the levels to which Bitcoin (Wave 4) might correct and their respective probabilities according to my point of view:
- 38.2 fib. (This level has already been reached) The probability that this is the bottom of the correction is 33%. - 50 fib. The probability that this is the bottom of the correction is 22%. - 61.8 fib. The probability that this is the bottom of the correction is 45%.
These probabilities may vary according to the three main events currently unfolding (Mt. Gox, sales from Germany, and ETFs).
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