Bitcoin - ABC follwed by ABC ??? If so, better prices ahead.

If this is another valid ABC correction that just finished instead of Wave 1,2, and the start of Wave 3 then we should see better prices going forward IMO. Still long my core position but took my trading profits around the top of what may be the completion of Wave C. Of course this is just one person's opinion. Many are still calling for $14K or higher right now. I don't know. This is what I see. The price could still reach out to the 1.272 and this pattern is still valid. All it means is that I jumped ship a little earlier than necessary. I do that sometimes. :0) I would also add that if prices breach well into the top of Wave A then this would be an additional confirmation that lower prices are to follow. We've come close, but not yet...

Good luck!

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In this 3 hour chart you can see that if this were a Wave 5 move that wave 4 has breached to the top of Wave 1 which is a technical no no. There are cases when a slight breach may be acceptable but as a general rule Wave 4 should never retraced back down into the top of Wave 1. Therefore my current conclusion is that we have completed an ABC correction with 5 sub waves as previously stated and lower prices are ultimately on the table. The conclusion will be even more solidified if we continue to breach lower into what would have been Wave 1 instead of wave A and close some longer time frame candles down here. This is just more evidence that this larger correction may not be over yet and the moon landing will have to be postponed until Houston can send us better coordinates.

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More info about Wave 4's

//mtpredictor.com/Elliott-Wave-4-observation/

(cut and paste link into browser)

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Here's a 4 hour view showing even more damage to the 5 Wave up theory.