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supestv
Jul 27, 2018 11:52 PM

My thoughts on BTC price movement.. Elliott Wave counts Long

Bitcoin / DollarBitfinex

Description

Some thoughts on the btc wave count. Subwave 4 did not retrace as low as I thought. I thought maybe $7750 but it retraced no lower than $7800. The fact that it did the big green candle confirms the Elliott wave count IMO, because it is impulsive.

I am being conservative with the end point of Wave 3. I am basing it off previous highs, but not sure whether they really apply in this case.
Comments
supestv
another point must be made that subwave 3 was pretty short, so subwave 5 has to be shorter. That's why Subwave 5 ends around $8660, but we migh end up with an extended wave 5 - that is also a possibility.
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