BTC

5 Dis

Just throwing this one out there, In this wave/Fibonacci scenario I have BTC topping out at the 5.1 extension level, It already hit. I am using the very first wave structure as the wave 1. There are 3 distinct moves and That is the highest extension I use on my tools. A more experienced waver might see this a different way. it is very possible that where wave 3 is labelled that it could be the wave 1 with that big retrace. In the theory I'm displaying wave 4 retraces below the wave 1 suggesting a leading diagonal... before you all go, but but but just consider if what I have labelled is the top of this formation ( it becomes the new wave 1) We should retrace here for this theory to be valid. I don't have any position in BTC and I don't spend much time on it but I would be taking my chances on a significant retrace. If all of that on my chart is wave 1 just imagine where a wave 3 would go!!! GL, don't yell at me.