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user100000
May 19, 2015 4:42 AM

Elliott Wave Analysis of BTCUSD/BITSTAMP; 4H Long

Bitcoin / U.S. dollarBitstamp

Description

That was an unusually long wave (ii) correction. I labeled it as a WXYXZ because nothing else seems to fit that pattern. I'm not sure if wave Z is complete but it can't go much lower since this is an impulse wave so it has to maintain some reasonable upward slope for the channel
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