Elliot Wave & Fib Projection Analysis

19 בספט׳ 2021

(Weekly) Chart shows a Fib runup to 146k as a target zone by end-of-year. This is substantiated by the stock-to-flow model, the recent Golden Cross pattern completion, and recent price action off of the low of 28.8k. However, RSI is wavering in its middle position suggesting that there may be volatility between now and the beginning of a strong bull movement. Price could go any direction on an hourly or daily timeframe. The length of the Elliot Wave 4 to 5 points are speculative based on its rise from the 0 to 1 points. It possibly could go higher based on the length of the 2 to 3 rise, but this would be optimistic. Set your price target accordingly.