The relative strength we've seen out of Bitcoin is a really good thing. The crypto currency has rallied back into the resistance that used to be support for the (b)-wave. Where the (b)-wave was a flat this (x)-wave was a running flat. Thinking bitcoin hodlers can thank the Chinese for the massive amount of liquidity they have unleashed on their financial system.
Anyways, if you’ve made money on this fourth wave run, it is time expect the inevitable 5th / (y)-wave to finish out this larger [c]-wave down, which should complete somewhere below 3223.8 but above the Line of Doom. Because of the strength of this (x)-wave, one should expect that that Bottom will be worth buying for a rocket ride back up, possibly as high even as $11,800 to finish out a Larger B wave. This is dependent on the Chinese lending money later like drunken sailors, and the FED uncracking another bottle of QE to continue the party.
Please take a look at our idea and let us know what you think!
BTC parabolic advance
Cincinnatuus
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@safesignal, If this move upward is corrective it is already done. If it is impulsive, you'll see your base 4 and upmove, but then you'll get a base 5 and another upmove! The bigger Elliott Wave tells us this is only an upwards corrective wave, So... you won't get to see your Base 4, it should finish out with some sort of top here and turn down. Typically, X-Waves turn down violently and definitively.
BTC parabolic advance