four hour elliott wave count; btcchina

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
This is my count so far of this unfolding impulse wave (1). I believe so far we have a 1-2-1-2 price action from what I can gather.
I think it's safer to count your 1-2 as a flat, at least until proven otherwise. The substructures of a flat in this case are a near perfect fit and don't require the use of a contracting leading diagonal. Here's an example:
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