Bitcoin has been on a plunge today. Which is great news for my prediction and overall look of the correction. Wave E has followed the shape of wave A, so it is all looking strong at the moment. Now a few reminders about this possible wave 5, and how it could play out. Be prepared for a possible ‘throw-under’ to occur, where we could dip under the $28,000 figure I have set out as the target for this correction. This is nothing to worry about as it is a strong indicator for a push further upwards after. Furthermore, as the wave following the correction is a macro level 5th wave, it may not be too long. There is a term in the Elliot Wave book called a point of thrust. This is a level where Wave 5 is expected to hit, however if it does pass the level, it is indicating that the 5th wave will be an extended 5th, further benefiting us. I am slightly busy at the moment, so bear with me, I will he posting my opinion on this level of thrust we can use as a benchmark later tonight. Hope this helps
