Most likely Elliott pattern
I have seen some interest in my ideas so I thought I will update them a bit.
This is the most likely Elliott wave pattern I see, but especially on the higher timeframes, they get a little sketchy.
The run-up from 1k to 20k should have wave 5 being completed at 20k
It IS possible that the whole thing has an extended wave 5 and this crash isn't gonna be as bad as I drew it.
If I was forced to make a guess, this would be it.
The moment the waves show me something different I adapt my ideas.
All price targets in the chart are mostly random, what I care about are the waves.
It would also be possible to see a flat correction in the middle so the current run-up would stop at 3, however, the momentum in the first wave was quite strong.
I will publish another idea about a shorter timeframe.
This is the most likely Elliott wave pattern I see, but especially on the higher timeframes, they get a little sketchy.
The run-up from 1k to 20k should have wave 5 being completed at 20k
It IS possible that the whole thing has an extended wave 5 and this crash isn't gonna be as bad as I drew it.
If I was forced to make a guess, this would be it.
The moment the waves show me something different I adapt my ideas.
All price targets in the chart are mostly random, what I care about are the waves.
It would also be possible to see a flat correction in the middle so the current run-up would stop at 3, however, the momentum in the first wave was quite strong.
I will publish another idea about a shorter timeframe.
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