If
ZECBTC
respects the Elliott Wave theory, then I think first (A-B-C) correction is over and it's starting a new impulse wave. If the first cycle is part of a bigger 1st wave (yellow line) then the next one should be even bigger then the previous one reaching to yellow point 3.
The theory that the 3rd wave is always the longest and correction wave 2 never retraces more than 100% of wave 1, while wave 4 does not overlap with the price territory of wave 1 this should be the projection. I did measure the 1st yellow wave and because the 3rd wave has to be longer, that's how I've got it's height. The price targets are not accurate, but it should give you a rough idea.
I would like to hear your opinion about this. Feel free to correct me if I'm wrong!
ZECBTC
respects the Elliott Wave theory, then I think first (A-B-C) correction is over and it's starting a new impulse wave. If the first cycle is part of a bigger 1st wave (yellow line) then the next one should be even bigger then the previous one reaching to yellow point 3. The theory that the 3rd wave is always the longest and correction wave 2 never retraces more than 100% of wave 1, while wave 4 does not overlap with the price territory of wave 1 this should be the projection. I did measure the 1st yellow wave and because the 3rd wave has to be longer, that's how I've got it's height. The price targets are not accurate, but it should give you a rough idea.
I would like to hear your opinion about this. Feel free to correct me if I'm wrong!
Trade closed: stop reached:
Seems like it seem I missed something or something unexpected happened that I don't know about.