Appears we are in wave 4 right now, correcting the very large wave 3 down from yesterday. Wave 2 was very sharp and short so wave 4 should be extended.
The previous correction wave C hit 1.618 of A to 6190 area...1.618 of this A wave would take C wave to around 6120 before the 5th and final leg to sub 60. Price is struggling to break the 50% fib level currently though.
1.618 of wave 4 is $59,66 which ties in with the higher degree waves (I'll add that chart soon).
Currently short from 6224 and added one at 6188 before yesterdays bearish drop (the largest red 1H candle of 2018)
The previous correction wave C hit 1.618 of A to 6190 area...1.618 of this A wave would take C wave to around 6120 before the 5th and final leg to sub 60. Price is struggling to break the 50% fib level currently though.
1.618 of wave 4 is $59,66 which ties in with the higher degree waves (I'll add that chart soon).
Currently short from 6224 and added one at 6188 before yesterdays bearish drop (the largest red 1H candle of 2018)
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Forgot to add that invalidation point for this theory is 6139, wave 4 crossing the end of wave 1