Bitcoin corrective Elliott is complicated BUT target is clear!
Chart speaks for itself, but let me add a few abnormalities.
- The A correction in our bigger ABC wave doesn't make any sense, there is no way to put an 12345 in there!
--> This actually made so little sense that EVERY elliottician that I have heard or spoken to thought this was the bigger wave B and we would be putting the C ending the correction straight after... However, the higher high that came afterwards proofed differently. Actually it is even weirder from the timing perspective! It would have made perfect sense to be the bigger B wave as the timing corresponds to the bigger A wave. However, it ends up being an intra wave correction that took very long and to make matters worse, it appears the intra wave B correction following that actually took like 3 times longer than the bigger A wave itself. This might be impossible to predict, but I've never heard or seen that this would invalidate the count so let's roll with it... ;-)
- There will definitely be a correct way to interpret the intra 3 wave of the intra 1 wave of the big C, as it looks like some special Elliott pattern (zigzag/diagonal/xyz). Unfortunately I am still a noob at the subject and still need to figure out how these patterns actually unfold.
--> 8100-8150 now makes even more sense than ever before because we put our B so high up
--> Why am I sure the B must be in? For starters the ABC in the B is crystal clear, there is no way around and no denying it... We have corrected way too far afterwards to be able to have that correction being corrective inside the 12345 wihtin the C finishing that big B. It's impossible to finish something higher than the B without going above 9450 which would invalidate the entire corrective structure. That's a fact because the 4 cannot be in 2 territory and there is no 1 that can be below that 8730 low.
- The A correction in our bigger ABC wave doesn't make any sense, there is no way to put an 12345 in there!
--> This actually made so little sense that EVERY elliottician that I have heard or spoken to thought this was the bigger wave B and we would be putting the C ending the correction straight after... However, the higher high that came afterwards proofed differently. Actually it is even weirder from the timing perspective! It would have made perfect sense to be the bigger B wave as the timing corresponds to the bigger A wave. However, it ends up being an intra wave correction that took very long and to make matters worse, it appears the intra wave B correction following that actually took like 3 times longer than the bigger A wave itself. This might be impossible to predict, but I've never heard or seen that this would invalidate the count so let's roll with it... ;-)
- There will definitely be a correct way to interpret the intra 3 wave of the intra 1 wave of the big C, as it looks like some special Elliott pattern (zigzag/diagonal/xyz). Unfortunately I am still a noob at the subject and still need to figure out how these patterns actually unfold.
--> 8100-8150 now makes even more sense than ever before because we put our B so high up
--> Why am I sure the B must be in? For starters the ABC in the B is crystal clear, there is no way around and no denying it... We have corrected way too far afterwards to be able to have that correction being corrective inside the 12345 wihtin the C finishing that big B. It's impossible to finish something higher than the B without going above 9450 which would invalidate the entire corrective structure. That's a fact because the 4 cannot be in 2 territory and there is no 1 that can be below that 8730 low.
Comment:
I must have been incorrect about the intra wave 1 being in already, it's probably just the 3 of the 1 in and the 5 following now! Most likely the 5 will find its support at the 8690 (golden zone)! Potential partly take profit of most smart and careful bears! Updated chart follows tomorrow, but please use this info properly and wait before going short here.
Comment:
Holy shit dude... This whole wave down from today HAS to be a 1 of the 3 if it is not going to break a bunch of Elliott rules. Either we have finished something bigger at 9450 without me realizing this yet, and then it might make some sense on the larger TF that we go well beyond 8.1k. Or it might still be possible that all of this can be finished at the golden zone around 7.6k. Anyhow, this is looking like a fucking mess right now! Expect a retrace to the 0.786 at 7870 (I am not kidding you) for the 2 before we put in the 3 of the 3, try to imagine the gain that can be made if you short that... This 3 from 3 might already lead to previous TP if it doesn't at least the 3 will lead to it. Alright enough said, 7.6k still hold a lot of potential to support an unfinished bullish pattern, the future might be bright for both bulls and bears :-)
Comment:
It might be even more complicated!
