Thanks for the feedback RyNinDaCleM, appreciated.
So, if I understand your remarks (please tell me if I summarized it wrong), you pointed 2 things :
- from EW rules my first C target ($300) is incorrect cause wave 5 of smaller degree, labelled (5), should at least go as far as (3)
- from EW rules my second C target (testing again $278 or ultimately $257) is correct - still - my "ultimately" is (from your experience) not correct since C can end up in between III (old ATH) and IV ($85 but lowest point inside this wave is $45). For different reasons I don't see 257 a possible breakable level but thanks for providing a classical initial target ; I didn't know about this.
Now I can see your yellow (5). All the labels were stacked up on top of each other so it made it difficult to see. That is where the first remark came from. And I should clarify, C is always 5 waves, and always follows impulse rules except if it's an ending diagonal which is still 5 waves in the form of 5 zigzags as you have drawn. So that is valid.
The second remark was more in response to the green note you made on the chart. Maybe I misunderstood it and you weren't saying that it can't go below $259, just that it shouldn't due to fibo targets/trend lines/structures.
Wave-5 does not need to make a new low. This is called truncation and it happens, especially in Bitcoin.
Your counts are fine, I just had to stretch them a bit to see what labels were there.
