$VTC | ABC correction & targets ($btc $crypto)
Updated
Looking at VTC, it has completed two consecutive sequences of Elliot wave. We just reached the peak of the second sequence so we're due a healthy ABC correction. I've suggested some targets here, based on the Fib-levels of the previous ABC correction.
(A) - Last time located around the 61.8-line, applying this again would land us around 22k
(B) - Will be just below the 1.618 level which coincides perfectly with a resistance line located just under 40k.
(C) - Finishing the corrective wave would place us at the .382 level, taking us all the way back at 16-17k.
There's a lot of buzz and confidence in this token, so this might play out completely different, but this is what I came up with. Let me know what you think!
(A) - Last time located around the 61.8-line, applying this again would land us around 22k
(B) - Will be just below the 1.618 level which coincides perfectly with a resistance line located just under 40k.
(C) - Finishing the corrective wave would place us at the .382 level, taking us all the way back at 16-17k.
There's a lot of buzz and confidence in this token, so this might play out completely different, but this is what I came up with. Let me know what you think!
Note
Updated view on the ABC correction, depicted two potential scenario's here. Either a big correction taking us back maybe as far as 30k at the .236 line.
Or a smaller one, which would keep us above 50k from where we move into the next set of impulse waves.
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