This Elliott Theory explains that the bottom of 2018 (3k) was the start of the 1st leg of the last set THIS IS THE 2 WEEK LOG CHART, so this is a long term idea (3 years because BTC runs on a 4 year cycle and we are at the bottom of the 1st year)
wave 1 blue (3k to 14k) wave 2 red (14k to 4k) the price can retrace but not cross below the bottom of wave 0 wave 3 orange (4k to 69k) cannot be the shortest wave and the one with the most volume wave 4 red (69k to 14k) the price can retrace back down but not cross below the top of wave 3 (14k) wave 5 green (14k to 644k) this chart is the LOG chart but the 1.618 is at 644k when you measure the fib from 4k to 69k
I have color coded everything to make it easier to follow.
note - there is still 1 open CME gap at 9.8k note - Binance tested their chart with their "flash crash" that dropped the price to 9.8k note - Most large cap cryptos have broke the major 8 year cycle support line and is NOW retesting that level note - if the price drops back down to below 14k on this pullback then this theory is invalidated.
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