Hi There,
Today we have 4H chart of bitcoin, we're now in a pullback, technically in wave 4, on the chart above shows that we have three scenarios,
The first scenario will be when the correction (the pullback ) finish with a simple abc, then breaks into the final leg (wave 5), and there is a case when fifth wave might be extended and go higher.
The second scenario is that we might have a failed fifth wave, as Elliott noticed that on occasion wave 5 fails to extend beyond the extreme of wave 3 and generates a reversal directly.
The third scenario and the last is that the wave 4 go a little bit up then followed by a decline or a downward movement.
Today we have 4H chart of bitcoin, we're now in a pullback, technically in wave 4, on the chart above shows that we have three scenarios,
The first scenario will be when the correction (the pullback ) finish with a simple abc, then breaks into the final leg (wave 5), and there is a case when fifth wave might be extended and go higher.
The second scenario is that we might have a failed fifth wave, as Elliott noticed that on occasion wave 5 fails to extend beyond the extreme of wave 3 and generates a reversal directly.
The third scenario and the last is that the wave 4 go a little bit up then followed by a decline or a downward movement.
Comment:
So it was the first Scenario after all, we might have an extended fifth wave, and the price continues higher.