Bitcoin Possible ABC Correction

Wave A is an impulse or leading diagonal

Wave B never goes beyond the start of wave A, Wave B usually retraces 38%-50% of wave A

Wave C is an impulse wave or ending diagonal. Wave C often equals Wave A.

fib 0.381 and 0.5 are important zones.

Komen:

possible retest and double bottom. if not we go straight to 8k

Komen:

Wave Degree
Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.
Rule 2: Wave 3 can never be the shortest of the three impulse waves.
Rule 3: Wave 4 can never overlap Wave 1.

if one of these rules break elliot wave is off the table.

Relation Between Fibonacci and Elliott Wave Theory
• Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1
• Wave 3 is typically 161.8%, 200%, 261.8%, or 323.6% of
wave 1
• Wave 4 is typically 14.6%, 23.6%, or 38.2% of wave 3
• Wave 5 is typically 61.8%, 100%, or 123.6% of wave 1
• There are three different ways to measure wave 5. First, wave 5 is 61.8%, 100%, or 123.6% of wave 1. Second, wave 5 can be measured as 23.6%, 50%, or 61.8% external retracement of wave 4. Third, wave 5 is 61.8% of wave 1-3

length wave one = 5400 -11441=6041
length wave 3 = 8821 -17171 =8350
lengthe wave 5 =12730 -19891 =7161

Komen:

possible bearish pennant