I use wave pattern to see where the correction may end. right now we have the structu for 1 impulsive wave with a pattern retracing at the fibo ratio of 85.4% of wave 1 (see fibo table at the left).
the pattern i identified is an expanded flat : ibb.co/HdrK3TN
Guideline for expanded flat • A corrective 3 waves move labelled as ABC • Subdivision of wave A and B is in 3 waves • Subdivision of wave C is in 5 waves impulse / diagonal • Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three • Wave B of the 3-3-5 pattern terminates beyond the starting level of wave A • Wave C ends substantially beyond the endng level of wave A • Wave C needs to have momentum divergence
Fibonacci Ratio Relationship for expanded flat
• Wave B = 123.6% of wave A • Wave C = 123.6% – 161.8% of wave AB
guideline and fibo ratio seems to be respected
potential price target if premise is true :
this kinda correlate with my last post in ethusdt wave pattern :
*this is not an investment advice, eth 3x token are high risk assets, use extreme caution, specially if you are new*
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the fifth wave for the expanded flat seems in. imminent bullish crossover on the 1H. good correlation between wave count and indicators
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please, watch this resistance. ethbear token are super risky so never safe enough :