Kappy
Short

Bitcoin short-term Elliott Wave Count

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The final leg down is possibly underway - Wave 5 of (C) of ((Y)) of II based on my primary long-term count (links below).
Today's intraday low of 210.12 broke below the black wave 1 keeping this count on track.

Bearing an expanded flat correction for wave 4 (blue) or wave 2 (black), expect a steep impulsive decline for wave 3 (black) of wave 5 (blue).

Also, start watching momentum indicators MACD, RSI, and Stochastic for weakness and divergence (in waves 5) relative to waves 3.

snapshot
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