Petros

Petros

If the corrective wave 4 is concluded, and it looks like it is, the target for BTCUSD is minimum $6000. If the correction is not over, then what is wave 4 for now, will become wave A, and we'll see wave C going below $3000, then wave 5 will proceed with slightly lower target. The structure of BTC movement during last years is perfect, textbook Elliott...

Petros

Here we are at the beginning of the wave V, although I was not correct about wave b of IV beeing irregular, wave c of IV played out as expected. Now we are able to draw wave V price target zone. Based on a Fibonacci 1.618 extension we can conclude that wave V will end between 0.037 and 0.05 BTC per Ether. Wave V will have 5 waves like wave III. Watch them...

Petros

Looks like we're stuck in wave B of correction (of wave 4). This is an irregular (triangle) wave B - there are 5 waves in it (a-b-c-d-e). I've added two arrows to point out how such a wave B looks like, because it's rather rare. The end of wave 4 seems nowhere near, it can take whole April until it finishes.

Petros Updated 

Here we have it: a perfect Elliott Wave in all it's glory. This view helps to get a bigger picture of where we are in the current trend. Targets are estimates only, as waves can get severly compressed and stretched both in time and price. We'll be able to draw price target zone for wave V only after c of IV is concluded. I'll update the chart when this happens.