Wave: ZIG-ZAG COrrection
Profit Sharing: 50%
Wave A having a five impulse wave ,
B wave mostly max travell upto 61.8(A)
C wave is the tradable/execution wave . It may 123.6% to 161.8% or more of Wave A
Just wait and watch like a snipper for entry near the "B" wave going to finish.
Bitcoin may see the 31K as shown.
2nd wave was shallow, so as per the alternation we may see 4th wave deep around $27990
This analysis is validated till the price stays above the start of the 1st wave.
ETH/USD at 1840.
Wave 1 : Starting from 1620 to 1940
Wave 2 : 38.2% retracement @ 1815
If it is deep then we may see 1744.
Wave 3: If we consider wave 2 is completed
and wave 3 is begun then 2550-2650 is the
Target for wave 3 .
Analysis by Bharat Kumar on 29th June 2023
1st wave was normal
3rd wave was exactly 100% of wave 1.
As per the elliott rules one of the motive should be extended . There is a high probability to extend 5th wave .
AUD/USD BUY @0.67750
I am counting the waves of eth as showing in chart .
Current price at 1575
5th wave may extended for the target of 2000 in march or April 2023 month.
We can see 4th wave was inverted flat and shllow so there is a high probability to be extended 5th wave.
Stop loss for BUY 1575 is near 1460 low for the target of 2000
You can see in the chart 5th wave is extended and it is a Fibonacci 138.2%(0-3)The beauty of the extended 5th wave is after the extended 5th wave price falls rapidly upto the 2nd wave of the 5th wave which comes near 1775
So I am given the target of the fall is up to 1775. then I have forecast inverted flat correction up to 1844 with a low of 1749.
One more leg...
Wave III is continuing or it is completed in 1950.
from 1950 I am expecting a triangle or complex correction as shown below where 1910 & 1922 is demand area.
When the price comes in this area, it may bounce towards 1935-1945.
If the price trades below 1900 then we may see the following ABC pattern in which C wave is 123.6 to 138.2 of wave A.
Bears will get...