Twin 0.382 retracement coinciding with a channel support line.
Crayon has a habit of extending 1.618 of previous run before a correction (wave 3 = x1.618 wave 1), ranging back to 2018. If these extensions were applied to Wave 3 and to Wave 1→ peak Wave 3 and with a target being the channel resistance it would lead to a target somewhere within the red bubble in early 2021.
Wave 1 and Wave 3 have an almost identical % rise (128.2% and 126.9% respectively). If these % gains were applied to wave 5 at a place where it would coincide with the resistance line of the channel it would also lead to that target being met somewhere in early 2021 within the red bubble. However there is no guarantee there will be a third identical % rise and the prioritized target is the channel resistance line.
Crayon has a habit of extending 1.618 of previous run before a correction (wave 3 = x1.618 wave 1), ranging back to 2018. If these extensions were applied to Wave 3 and to Wave 1→ peak Wave 3 and with a target being the channel resistance it would lead to a target somewhere within the red bubble in early 2021.
Wave 1 and Wave 3 have an almost identical % rise (128.2% and 126.9% respectively). If these % gains were applied to wave 5 at a place where it would coincide with the resistance line of the channel it would also lead to that target being met somewhere in early 2021 within the red bubble. However there is no guarantee there will be a third identical % rise and the prioritized target is the channel resistance line.