In my previous analysis I explained how BTC was moving toward a turning point in the $7200-7500 range. I still maintain that idea. However the 70% fibo of the previous downtrend could well be part of the correction targets. Wave 4 of C could still not be yet completed. I'll update the chart as it unfolds.
Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets. DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
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As expected wave 4 wasn't done. Maybe it is this time. I have adjusted the targets accordingly
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I could be wrong on that. Looking at the BTCUSD coinbase chart, these could be the potential reversal targets. An extension is also possible to go beyond those levels.
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wave 5 could have already been reached. Is it the start of the dump?
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We may assist to a few pullbacks here and there. A few targets have been projected. I will adjust the chart as it unfolds depending on the wave count.