chxdd

Elliot Wave #hopium for BTCUSD

BITFINEX:BTCUSD   Bitcoin / Dollar
I generally do not try to predict anything outside of a few days, which is why I stopped plotting EW's a long time ago, but this kinda stood out and I thought I would share.

I don't remember the exact fibs for estimating wave no. 5 so I'm assuming that past resistance will come into play and reject at 844 or (most likely) earlier.

At this rate, we should be seeing price continue to make higher lows until a top in the low 800's around October.

This isn't gospel, I'm into profits, not prophets. We'll see how this turns out in 3 months.
Comment: Sorry for the scrunched up chart. I made this on the big screen and when i checked it on my laptop, i realized that I made this mistake. Zoom out.
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My interpretation of recent waves.
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snapshot
Comment: We could also interpret (b) forming a continuation abcde triangle, which would still result in a downward continuation. I'm being optimistic and assuming this wave (4) ends flat before starting wave (5).