Description
⋅ As the title suggests, we have now begun wave 1 of wave 3 of the Grand Super Cycle time frame since the inception of Bitcoin.
The drop from 20k to 3 k was a 3 wave WXY complex zig -zag correction.
We have now seen wave 1 and wave 2 of wave 3 of the grand super cycle time frame complete.
Wave 1 was the impulsive 5 wave move from 3k to 14k.
The 5 wave nature of that move invalidates other less knowledgeable elliot wave analysts claiming another drop in some kind of zig zag.
That is impossible when you consider the structure of these waves.
(IE, the drop from 20k to 3 k was a 3 wave move as seen here, not a 5, therefore, not a zig-zag.)